Japan, New York stock market bullish, yen rises
China responds to reports of additional U.S. sanctions
▲The movement of the Nikkei 225 index in the Japanese stock market. The closing price on the 28th was 33,193.99. source market watch
Asian stocks were mostly up on the 28th. The Japanese stock market rebounded after 5 trading days amid strong New York stock market and weak yen, and Chinese stock market recorded a weak level amid tensions with the US.
The Nikkei 225 index of the Japanese stock market closed at 33,193.99, up 655.66 points (2.02%) from the previous trading day, and the Topix index closed at 2298.60, up 44.79 points (1.99%).
The Shanghai Composite Index of the Chinese stock market closed at 3189.38, down 0.07 points (0.0%), and the Taiwan Stock Exchange closed at 16,935.63, up 47.73 points (0.28%).
As of 4:33 pm, Hong Kong’s Hang Seng Index rose 30.86 points (0.16%) to 19,182.37, Singapore’s ST Index rose 4.64 points (0.14%) to 3210.18, and India’s Sensex Index rose 523.07 points (0.82%) to 60,000. It is trading at 3939.10.
The Nikkei 225 index rebounded after 5 trading days. The day before, the New York stock market rose. The Dow rose in 7 trading days, and the S&P 500 and Nasdaq index each recorded a strong 1% range.
There was also a point where export stocks showed strength in the weak yen phenomenon. The dollar-yen exchange rate, which fell to 141.34 yen last week, is currently approaching 144 yen.
The Nihon Keizai Shimbun (Nikkei) explained that there was also a low-point buying due to the recent four-day decline. The four-day drop exceeded 1,000 points.
Among the major stocks, Toyota Motor Corporation rose 2.82% and Tokyo Electron rose 2.66%. Nomura Holdings rose 3.74% and NTT rose 5.23%. On the other hand, Kawasaki Kisun and Japan’s Choongwae Pharmaceutical fell 6.20% and 0.38%, respectively.
The Shanghai Composite Index ended weaker. Amid deep-rooted concerns about economic recovery, the conflict with the US over semiconductors also made investors anxious.
According to the Wall Street Journal (WSJ), the US Department of Commerce is reviewing additional sanctions related to semiconductor exports to China. The main point is to prevent US semiconductor companies, including Nvidia, from exporting semiconductors to concerned countries such as China without prior permission from the authorities. It is expected to come into effect early next month at the earliest.
At one time, the drop in the news widened to 1%. However, expectations for government policy still remain and soon diminished.
The Shanghai Exchange’s Kechuangban Index, which comprises 50 emerging technology companies, fell 0.3%, while the Shenzhen Exchange’s Changyeban Index fell 0.44%.