Japanese Market Update: Toyota Invests in Brazil as Yen Strengthens – Stock Market News

Japanese Market Update: Toyota Invests in Brazil as Yen Strengthens – Stock Market News

2024-03-06 01:20:09

The flagship index of the Japanese market dropped 0.29% to 39,980.45 points following 01:00 GMT, while the broader Topix index gained 0.19% to 2,725.21 points.

The New York Stock Exchange closed in the red on Tuesday, weighed down in particular by its major technology stocks such as Apple, Microsoft, Amazon and Meta, targeted by unprecedented profit-taking for several weeks.

Toyota invests in Brazil

The Japanese automobile giant Toyota (+0.67%) announced Tuesday that it planned to invest 11 billion reals (2 billion euros) by 2030 in its operations in Brazil, in particular to increase its production of “flex-fuel” hybrid vehicles (which accept several gasolines). Of this amount, 5 billion reals must be invested by 2026, notably in the production of two new vehicles using this technology, according to a press release.

The yen strengthens

The yen rose once morest the dollar, to 149.98 yen per dollar around 01:10 GMT, compared to 150.05 yen on Tuesday at 21:00 GMT.

The European currency also fell once morest the Japanese currency, at a rate of one euro to 162.71 yen once morest 162.90 yen the day before.

The euro was also trading for 1.0849 dollars, once morest 1.0857 dollars on Tuesday.

On the oil market, a barrel of American WTI appreciated by 0.04% to $78.18 around 01:00 GMT and that of Brent from the North Sea gained 0.05% to $82.08.

mac/rr

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