2023-07-31 01:21:04
Tokyo (awp/afp) – The Tokyo Stock Exchange was dynamic on Monday morning, encouraged by gains on Wall Street on Friday and the persistent weakness of the yen, despite the decision of the Bank of Japan (BoJ) to loosen its control of the bond market .
The flagship Nikkei index gained 1.81% to 33,351.46 points around 01:00 GMT and the broader Topix index rose 1.62% to 2,327.73 points.
New indicators confirmed last Friday that US inflation is slowing and that consumer confidence in the United States remains good.
The Bank of Japan initially stunned financial markets on Friday by waiving its hard cap of 0.5% on yields on ten-year Japanese government bonds. But she assured that this adjustment was aimed at making her ultra-accommodative monetary policy more sustainable, not at dismantling it.
Many economists nevertheless believe that the BoJ is thus preparing the ground for a normalization of its monetary policy, gently, to avoid causing shocks on the financial markets.
Surprise cash inflow for Toyota
The Toyota title climbed 2.64%. The automotive giant announced on Friday that it would sell for 250 billion yen (1.6 billion euros) a small slice of its shares in the Japanese telecom operator KDDI (-0.91%), as part of a a share buyback program led by the latter.
Toyota intends to use the cash generated by this operation to finance its investments in its growth and innovation.
The yen rises but remains weak
On the currency market, the yen rose a little once morest the dollar, at the rate of one dollar for 140.92 yen around 01:00 GMT once morest 141.16 yen on Friday at 21:00 GMT. But the Japanese currency had fallen significantly on Friday following the initial surprise caused by the BoJ.
The yen also appreciated slightly once morest the euro, which was worth 155.35 yen once morest 155.50 yen at the end of last week.
One euro was also trading for 1.1022 dollars once morest 1.1016 dollars on Friday at 9:00 p.m. GMT.
On the oil market, a barrel of American WTI lost 0.31% to 80.33 dollars around 01:00 GMT and a barrel of Brent from the North Sea lost 0.27% to 84.76 dollars.
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