Asian stock markets driven by the hope of ambitious American measures

The Nikkei flagship index ended 1.04% at 28,456.59 points but the expanded Topix index took only 0.35% to 1,864.40 points.

The Tokyo and Hong Kong stock exchanges ended up Thursday, supported by the prospect of a gigantic economic aid plan for the United States and encouraging figures for Chinese exports.

In Tokyo, the Nikkei index rose for the fifth session in a row, + 0.85% to 28,698.26 yen. The broad Topix index gained 0.48% to 1,873.28 points.

In Hong Kong, the Hang Seng index rose 0.93% to 28,496.86 points.

Investors have appreciated reports from US media that the next economic aid package future President-elect Joe Biden is due to present on Thursday to support the US economy will reach $ 2,000 billion.

The markets were also pleased with the performance of Chinese exports, which in 2020 recorded an increase of 3.6% over one year, driven in particular by products against the coronavirus, according to data released Thursday.

Optimism thus dominated, despite the extension announced Wednesday of the state of emergency in Japan to seven additional departments after Tokyo and its suburbs in the face of the local resurgence of the pandemic.

This series of recommendations – not binding for the moment – is accompanied by a tightening of entry restrictions to Japan, with the suspension of a program that allowed business travelers from 11 Asian countries and territories, including China. and South Korea.

Mainland Chinese stock markets, on the other hand, fell, with the Shanghai composite index dropping 0.91% to 3,565.90 points and that of Shenzhen losing 1.39% to 2,360.40 points.

On the value side

ALIBABA AND TENCENT

Chinese technology giants Alibaba (+ 5%) and Tencent (+ 5.62%) saw their stocks soar on the Hong Kong Stock Exchange after the publication of information by the Wall Street Journal on Wednesday according to which Washington would not consider no longer prohibiting Americans from investing in their stocks.

The US federal government was exploring the possibility of adding these groups to a Department of Defense blacklist that included companies with suspected ties to China’s military, intelligence, or security apparatus.

FAST RETAILING ON ACCOUNT TIME

Fast Retailing shares rose 1.66% to 93,660 yen. On the strength of its performance in Japan and China, the Japanese ready-to-wear juggernaut (Uniqlo) confirmed Thursday after the close of the Stock Exchange its forecasts for its 2020/21 fiscal year which started on September 1.

The group still expects an annual net profit of 165 billion yen (1.3 billion euros), a jump of 82.6% over one year, and an operating profit of 245 billion yen (+ 64%) . He also still anticipates an annual turnover of 2,200 billion yen (17.8 billion euros), which would amount to an increase of 9.5% over one year.

On the currency and oil side

The yen fell against the dollar, at a rate of one dollar against 104.01 yen at around 9:20 a.m. GMT against 103.89 yen on Wednesday at 9 p.m. GMT.

The Japanese currency also fell very slightly against the euro, which was worth 126.41 yen against 126.30 yen the day before.

The euro was worth $ 1.2154, against $ 1.2157 on Wednesday at 9:00 p.m. GMT.

The oil market saw red: around 09:20 GMT the price of an American barrel WTI dropped 0.4% to 52.65 dollars while that of a barrel of Brent from the North Sea lost 1.5% to 55.73 dollars.

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