Tokyo closes in the green

The Nikkei flagship index rose 1.03% to 26,423.47 and the expanded Topix index rose 0.5% to 1,879.12 points.

The Tokyo Stock Exchange ended higher on Tuesday, driven in particular by rumors about a possible lifting of certain American customs duties on Chinese imports, a measure that could dampen inflation in the United States.

The Nikkei flagship index rose 1.03% to 26,423.47 and the expanded Topix index rose 0.5% to 1,879.12 points.

According to several media, US President Joe Biden, seeking to curb the rise in consumer prices in the United States, could soon decide to lift certain US customs duties on imports of Chinese products. Such an announcement would be welcome for the equity markets.

“With a market oscillating with changing costs, if the United States lowered its tariffs (on certain Chinese products), the goods would be cheaper, which would have the effect of containing inflation,” he said. commented Shuji Hosoi of Daiwa Securities, quoted by the Bloomberg agency.

In Hong Kong, the Hang Seng index gained 0.4% around 06:40 GMT.

Today’s Value

RAKUTEN: the title of Japanese e-commerce giant Rakuten gained 1.62% to 627 yen. The group announced Monday that its online banking subsidiary Rakuten Bank has filed its application for an IPO in Tokyo, confirming a project unveiled last September.

The timing and amount of this operation have not yet been specified, but it should help financially relieve Rakuten, which is heavily indebted and chronically in the red due to its heavy investments in its mobile network in Japan.

On the side of oil and currencies

The oil market was moving in scattered order: the barrel of American WTI gained 1.18% to 109.71 dollars around 06:30 GMT, while that of the barrel of Brent from the North Sea lost 0.48% to 112.95 dollars .

On the foreign exchange market, the yen fell against the dollar, which was worth 136.16 yen around 06:45 GMT against 135.62 yen the day before.

The Japanese currency also depreciated against the euro which was trading for 142.06 yen against 141.34 yen on Monday.

One euro traded at 1.0435 dollars, against 1.0422 dollars the day before.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.