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Friday, January 27, 2023

The Nikkei rises 1.1% thanks to exporters and cheaper crude oil

Tokyo, March 29 (EFE).- The main index of the Tokyo Stock Exchange, the Nikkei, rose 1.1% this Tuesday thanks to the good performance of exporters due to the weakness of the yen against other currencies and a reduction in the price of crude oil futures that brought some calm.

The Nikkei, which groups the 225 most representative titles of the market, advanced 308.53 points, up to 28,252.42 integers.

The Topix, which includes the firms in the first section, those with the largest capitalization, total and 0.93% or 18.29 points, to stand at 1,991.66 units.

The Tokyo trading floor opened higher and maintained the pace throughout the negotiation thanks to the positive evolution of exporters, and especially among companies linked to electronics, benefited by the devaluation of the yen, which gives their products greater competitiveness in the abroad and inflates their remittances.

A drop in oil futures also played a positive role, helping to convey recent concerns about inflation and whet investors’ appetite for risk.

The transportation equipment sector led the day’s gains, along with shipping and services.

Shipping company Nippon Yusen (NYK Line) was the most traded company on the day, rising 2.2%, while its competitors Mitsui OSK and Kawasaki Kisen (J-Line) advanced 1.47% and 0.92%.

The vehicle manufacturer Toyota was third for transactions and climbed 2.67%, apart from the Softbank telecommunications group, which rose 1.88%.

The video game developer and distributor Nintendo added 1.39% and the technology company Sony, 1.8%.

In the first section, 1,466 companies advanced against 635 that fell, while 77 closed unchanged.

The trading volume amounted to 3.25 trillion yen (23.94 billion euros).

c) EFE Agency

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