2023-08-01 08:53:22
A state of enthusiasm among investors due to the decline of the yen
Tokyo – Archyde.com
Posted on: August 01, 2023: 11:31 AM GST Last updated: August 01, 2023: 12:53 PM GST
Japanese stocks rose at the close today, Tuesday, amid a state of enthusiasm among investors due to the decline of the yen.
The Nikkei index rose 0.92% to close at 33,476.58 points, while the broader Topix index rose 0.64% to 2,337.36 points.
US stocks rose yesterday, Monday, at the end of the month of July, which witnessed a strong performance, thanks to positive corporate business results and hopes for a soft landing in light of the strength of the US economy.
The yen fell to a three-week low once more, while investors are studying the Bank of Japan’s latest move to adjust its yield curve control policy.
Toyota Motor rose 2.49%, topping the gainers on the Topix index, following the automaker announced that its operating profit had nearly doubled in the first quarter. Sony shares rose 1.24%.
Chipmaker Tokyo Electron rose 2.82%, providing the biggest support for the Nikkei. Advantest shares jumped 4.02%.
All of the 33 sub-indices listed on the Tokyo Stock Exchange rose, except for four indices only.
The banking sector index snapped a three-session winning streak, falling 1.23%, and recording the worst performance among the sub-indices.
The utility companies index rose 3.29%, recording the best performance among the indices.
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