Tokyo shares closed higher on Tuesday. As a result, Wall Street rallies increased. As investors hoped for slower rate hikes in the US while shifting focus to corporate profits.
The Nikkei 225 benchmark was up 1.02 percent, or 275.38, to close at 27,250.28, while the broader Topix index was up 1.06 percent, or 19.95, at 1,907.14.Tokyo shares closed up US interest rate hike
Global markets rose as investors cheered media reports that said the Federal Reserve was slowing its rate hike in December.
Analysts said Hopes for the company’s strong earnings in the United States and Japan also boosted the mood. as well as political developments in England. in which former Finance Minister Rishi Sunak is designated as Prime Minister.
But investors are keeping an eye on China as well. As the third-generation leader Xi Jinping has ignited fears of economic constraints and policies aimed at tech companies.
The dollar gained 148.87 yen on Asian trade, compared with 148.95 in New York on Monday.
Chihiro Ohta, assistant general manager of investment research and investor services at SMBC Nikko Securities, said hopes had “raised” for a slower rise in US interest rates.
“Tokyo shares are negotiable,” he said, although the weakening yen and suspicion of government intervention in the currency’s value means purchases by foreign investors are likely to flow. not a flood.
Market players are now shifting their focus to earnings reports from major US blue chip stocks such as 3M, General Motors and Coca-Cola, as well as Japanese businesses.
Among the major stocks in Tokyo Automaker Nidec jumped 4.97 percent to 8,361 yen after the company posted strong earnings.
The heavier SoftBank Group jumped 3.77% to 5,949 yen.
Energy and natural resources related stocks are also profitable. Petrochemical company Idemitsu Kosan rose 2.47% to 3,315 yen, refiner Eneos Holdings added 2.20% to 492.7 yen.