2023-11-20 06:35:08
The Tokyo Stock Exchange closed lower on Monday, having turned into the red after its midday break, the continued strengthening of the yen having notably weighed on Japanese export values and in particular in the automobile sector.
The flagship Nikkei index, which briefly reached a new 33-year session high in the morning, finally lost 0.59% to 33,388.03 points. The broader Topix index lost 0.77% to 2,372.60 points. The new close in the green on Wall Street last Friday gave some fuel to the Tokyo market in the morning. But its momentum gradually faded, as the yen continued to rise against the dollar and investors were tempted to take profits. Panasonic stayed in good shape. Panasonic shares jumped 4.97%, after having already climbed 5.5% on Friday. The Japanese group announced on Friday that it had signed a memorandum of understanding with the American fund Apollo Global Management, paving the way for the latter to acquire a stake in Panasonic Automotive System (PAS), a Panasonic subsidiary bringing together its activities. in automotive equipment (excluding electric batteries). Panasonic also mentioned in its press release a potential future IPO of PAS. The Japanese shipping company Nippon Yusen (-0.73%) confirmed Monday that a cargo ship it had chartered, the Galaxy Leader, had indeed been “capture» while sailing near Yemen with 25 crew members on board.
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Oil rises
The Houthi rebels in Yemen, supported by Iran, claimed Sunday the seizure of this boat in retaliation for Israel’s offensive against their Palestinian allies Hamas in the Gaza Strip. The yen is strengthening further. On the foreign exchange market, the dollar continued to fall against the yen, with one dollar trading for 149.06 yen around 06:10 GMT against 149.63 yen on Friday at 21:00 GMT. The euro fell to 162.79 yen against 163.32 yen at the end of last week, and was trading for 1.0918 dollars against 1.0915 dollars on Friday at 9:00 p.m. GMT. Oil was climbing, in particular because the fall in the dollar made it more attractive: a barrel of WTI gained 0.74% to 76.45 dollars and a barrel of Brent from the North Sea gained 0.84% to 81.29 dollars. around 06:00 GMT.
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