Tokyo Stock Exchange: Monday’s Market Recap, US Inflation, and Rakuten’s Performance

2023-08-14 01:04:04

Tokyo (awp / afp) – The Tokyo Stock Exchange started in disorganized fashion on Monday, following a three-day weekend in Japan, and thus followed the half-fig half-grape trend of Friday on Wall Street, once morest a backdrop of uncertainty on the evolution of US inflation.

The flagship Nikkei index lost 0.16% to 32,420.88 points at 00:50 GMT, but the broader Topix index gained 0.1% to 2,305.86 points.

The New York Stock Exchange was undecided on Friday following a better than expected rebound in the wholesale price index in July in the United States. On the other hand, last month’s US inflation (CPI index), published on Thursday following the Tokyo close, slowed more than expected.

The fall of the yen once morest the dollar, which reflected renewed speculation on an extension of the current cycle of monetary tightening by the American Federal Reserve (Fed), on the other hand offered support to Japanese export stocks.

Rakuten researched

Investors favored the title Rakuten (+3%) despite the twelfth quarterly net loss in a row that the Japanese online services giant announced last Thursday, once more because of its heavy investments in its mobile business in Japan.

However, Rakuten’s losses have been gradually decreasing since the beginning of the year, in parallel with those of its mobile division, whose operating costs are falling. In addition, the group’s other divisions (e-commerce and fintech) delivered positive results.

The yen at its lowest since the end of 2022

The dollar continued to rise once morest the yen, at the rate of one dollar for 145.17 yen around 12:30 a.m. GMT once morest 144.96 yen on Friday at 9:00 p.m. GMT.

The yen thus returned to its lowest level once morest the greenback since November 2022.

The euro/yen rate was almost unchanged, one euro being worth 158.73 yen once morest 158.71 yen at the end of last week.

The European currency depreciated slightly once morest the greenback, with one euro trading for $1.0937 once morest $1.0949 on Friday at 9:00 p.m. GMT.

On the oil market, a barrel of WTI fell 0.32% to 82.92 dollars around 00:50 GMT and a barrel of Brent from the North Sea dropped 0.37% to 86.49 dollars.

etc/rock

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