September 24, 2020

The Tokyo Stock Exchange rises 1.33% thanks to optimistic data from the US and China

The Tokyo Stock Exchange rose on Tuesday and its main index, the Nikkei, rose 1.33%, as investors were motivated by the good economic data from the United States and China, raising concerns about the pandemic.

The Nikkei, which groups the 225 most representative titles on the market, gained 293.10 points, up to 22,288.14 integers.

The Topix, which includes the firms in the first section, those with the largest capitalization, advanced 9.55 points, 0.62%, to stand at 1,558.77 units.

The Tokyo parquet opened upwards, in the wake of Wall Street, where the go-ahead for the test flights of the controversial Boeing 737 Max plane and some good real estate data leaving a good taste in the mouth of investors in Tokyo.

The Nikkei rose as much as 2% during the first tranche following the release of good data for China’s manufacturing purchasing managers index, although it lost steam due to still-present concern about the pandemic and a lukewarm reception of Beijing’s enactment of the Hong Kong security law.

El Hierro and steel sector reaped the main gains of the day, along with that of air transport and real estate.

Printer firm Seiko Epson led the advancement among companies listed on the Nikkei, up 5.92%.

It was followed by IHI, which specializes in precision mechanical products, whose shares rose 5.27%, and truck maker Hino, part of the Toyota group, which climbed 5.05%.

Telecommunications conglomerate Softbank brought together the highest volume of operations for the day and closed the rise by 1.3%.

Semiconductor inspection systems firm Lasertec was second in operations and down 5.4%, followed by textile group Fast Retailing, which owns clothing store chain Uniqlo, whose shares finished 1.74% higher.

Trading volume amounted to 1.56 trillion yen (€ 12.89 billion or $ 14.46 billion).


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