Such Following the recent price gains, some Asian investors are taking the opportunity to take profits. The Japanese Nikkei index closed just under minus 29,520 points on Friday after briefly reaching its highest level in over 30 years. Markets in China and most of Southeast Asian countries remained closed for the Chinese New Year holidays.
“Last week’s surge was driven by optimism about individual companies, not entire industries,” said Koichi Kurose, chief investment strategist at asset manager Resona. Investors were now waiting for indications that the economy as a whole was recovering.
Toyota was one of the favorites on the Japanese stock market with a price increase of 3.5 percent. The automaker increased its business goals surprisingly. He also announced that he would have a supply of chips for car electronics for several months. The global shortage of semiconductors is forcing numerous competitors to cut back their production. Because of this, the titles of Honda and Nissan fell by almost four percent each.
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