The Japanese Nikkei index ended Thursday’s trading, with little change, following a volatile session, during which it raised the index to its highest level in five months, before giving up those gains due to the decline in the shares of shipping companies and the chip industry that wiped out the gains of energy and automakers, and the Nikkei index closed at 28,246.53 points, up 0.04 % following ascending to 28,389.75 points an hour before the close and its highest level since January 18, the Nikkei index increased regarding 10% over the four weeks to Wednesday, leaving investors wondering regarding his next move.
The broader Topix index ended Thursday’s trading with a slight decline of 0.05%, at 1969.05 points, and Maki Sawada, an analyst at Nomura Securities, said: “From a technical point of view, it seems that the Nikkei’s recent rises are overheated, and therefore a correction at any moment will not be Surprising but now stocks are being supported by the strong decline in the yen.”
The shares of car and motorcycle manufacturers rose amid a rapid decline in the yen to its lowest levels in two decades, which boosted the value of US sales, and the currency reached a low level of 134.56 to the dollar on Thursday for the first time since February 2002, following the pace of the widening difference between US and Japanese bond yields. long term.
Yamaha led the gains by 3.19%, while Mitsubishi Motors shares rose 2.75%, Subaru 2.13% and Toyota 0.4%. The performance of the energy sector was the strongest on the Nikkei and rose 2.27% with the rise in crude prices, and Inpex share rose 3.26%, and among the 225 stocks listed on the Nikkei, 113 shares rose versus 101 decreased, while 11 stocks stabilized. Shares of chip manufacturers declined, Tokyo Electron fell 2.19% and Advantest 2.5%, and shipping companies fell under pressure from the uncertainty of the global economic scene. %.
(Archyde.com)
