Nikkei, Topix: Asian stock exchanges are inconsistent

Man in front of stock market scoreboard in Tokyo

The Nikkei is showing weaker again after its record high.

(Photo: dpa)

Tokio, New York The Asian stock exchanges cannot agree on a common direction on Wednesday. “Overall, investors are sticking to an optimistic viewpoint and some are still betting on rising share prices,” said Masanari Takada, investment strategist at Nomura Securities. The Shanghai Stock Exchange was 0.9 percent up. The index of the most important companies in Shanghai and Shenzen gained one percent. The MSCI index for Asian stocks outside of Japan rose 1.1 percent to hit a record high, led by gains in Chinese stocks.

Investors are betting on a strong economic recovery in the coming year as there are few signs that policymakers will slow down massive economic stimulus.

The Nikkei index, which comprises 225 stocks, was 0.6 percent lower this year at 27,412 points after reaching a 30-year high on Tuesday. The broader Topix index fell 0.6 percent and stood at 1808 points.

“We believe that continued monetary and fiscal support means investors should take risks. Stocks will do better than bonds. Within bonds, corporate bonds should beat government bonds, ”said Hiroshi Yokotani, head of Asia Pacific Fixed Income State Street Global consultant.

In Asian foreign exchange trading, the dollar fell 0.2 percent to 103.32 yen and was 0.1 percent to 6.5226 yuan. In relation to the Swiss currency, it was quoted 0.2 percent lower at 0.8824 francs. At the same time, the euro rose 0.3 percent to 1.2282 dollars and rose 0.1 percent to 1.0838 francs. The pound sterling gained 0.3 percent to $ 1.3538.

More: Despite Corona, experts are very optimistic about 2021. Why this is so, and where analysts still see favorable entry opportunities.


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