2023-08-28 01:07:04
Tokyo (awp / afp) – The Tokyo Stock Exchange rose Monday at the start of the session, in the wake of Wall Street’s gains at the end of last week, after statements without surprise from the head of the American Federal Reserve (Fed) Jerome Powell.
The flagship Nikkei index gained 1.14% to 31,985.74 points around 12:50 a.m. GMT and the broader Topix index gained 1.01% to 2,289.20 points.
On the occasion of the annual symposium of central bankers in Jackson Hole (United States), Mr. Powell repeated that the Fed was ready to raise its interest rates further if necessary, while stressing that the institution would act “prudently “.
For his part, the governor of the Bank of Japan Kazuo Ueda reconfirmed the maintenance of the ultra-accommodating course of Japanese monetary policy, which is favorable to the Tokyo stock market, like the trend of the weak yen which continues.
Japan wants to accelerate in the electric
The Japanese government plans to double its target for the number of electric vehicle charging stations in the Japanese archipelago, to reach 300,000 stations by 2030 against a current target of 150,000 by the same deadline, reported this weekend the Yomiuri daily.
This would multiply this public network by ten compared to its current state (30,000 stations, very few of which are equipped with fast charging stations). The current underdevelopment of this infrastructure is one of the many factors explaining why the electric segment has been slow to take off in Japan.
The titles of major Japanese manufacturers benefited from this on Monday: Toyota gained 1.5%, Honda 2.14% and Nissan 1.47%.
The dollar remains stable
On the currency market, the dollar/yen rate was almost stable, with one dollar worth 146.50 yen around 12:45 a.m. GMT against 146.44 yen on Friday at 9:00 p.m. GMT. But the yen had fallen sharply at the end of last week.
The euro rose to 158.25 yen against 158.10 yen on Friday, and was trading for 1.0803 dollars (+0.06%).
In terms of oil, a barrel of WTI gained 0.33% to 80.09 dollars around 0:40 GMT and a barrel of Brent from the North Sea advanced 0.28% to 84.72 dollars.
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