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Asian stock markets react differently to Wall Street gains

The flagship Nikkei index gained 1.78% to 23,249.61 points, surpassing the 23,000 point mark for the first time since June.

The large Asian stock markets reacted variously Thursday to the gains of Wall Street the day before and to the hopes of economic recovery, Tokyo surfing on a low yen while Hong Kong stagnated in front of the blockage of the American negotiations of stimulus.

In Tokyo, the flagship Nikkei index gained 1.78% to 23,249.61 points, surpassing the 23,000 point mark for the first time since June and ending at its highest level since February 21, shortly after the first calls from the Japanese government to reduce the size of public events to prevent the spread of the virus. The extended Topix index rose 1.16% to 1,624.15 points.

The performance of the Tokyo market follows a sharply higher close on the New York Stock Exchange on Wednesday, benefiting from the rise in technology stocks and reacting positively to the choice of Kamala Harris as running mate of Democrat Joe Biden for the presidential election.

A series of recent positive indicators, notably on employment in the United States, “show a dynamic of macroeconomic data in the direction of economic recovery”, commented Okasan Online Securities.

“Sales movements as stock prices rose limited gains. But the strength of other Asian markets encouraged purchases and kept “the Nikkei high, the analyst firm added in a note, noting that the Tokyo Stock Exchange had also” benefited from a weaker yen. “

The blockage in the United States in the discussions on a new plan to help the economy, between the Democrats and the White House, however weighed on the enthusiasm of investors in Hong Kong, where the Hang Seng index has stagnated. (-0.05%) to 25,230.67 points.

The Shanghai Composite Index held steady at 3320.73 points, and the Shenzhen Composite Index gained 0.06% to 2216.47 points.

On the side of values

TOSHIBA ON SMALL RISING AFTER FORECASTS MAINTAINED

The title of the Japanese industrial conglomerate gained 0.28% to 3,480 yen during Thursday’s session. The group announced on Wednesday a net loss in the first quarter of 2020/21, due to the impact of the health crisis on its activity and restructuring costs in particular, but kept its forecasts in the green, hoping to generate over the year net profit of 50 billion yen.

DENTSU ON THE RISE BEFORE THE ANNOUNCEMENT OF ITS RESULTS

The action of the Japanese advertising giant climbed 2.07% to 2,808 yen on Thursday. The group, which announced its results after the close of the stock market, recorded in the second quarter of 2020 a small net profit of 438 million yen (3.5 million euros) and has not at this stage made any forecasts. for the whole exercise.

On the currency and oil side

The yen rallied slightly against the dollar, after hitting its lowest level since July 23 on Wednesday. Around 9:00 a.m. GMT, a dollar was worth 106.74 yen, compared to 106.91 yen on Wednesday at 9:00 p.m. GMT.

The European currency rose against the yen, a euro worth 126.37 yen, against 125.99 yen the day before.

The greenback weakened against the euro, with a euro trading for $ 1.1839 against $ 1.1784 on Wednesday at 9:00 p.m. GMT.

Oil prices were on the rise, having ended Wednesday at their highest level since March, following a report showing a sharp decline in crude reserves in the United States, the world’s largest consumer of black gold.

Around 9:00 a.m. GMT, the price of a barrel of US crude WTI rose 0.26% to 42.78 dollars and that of a barrel of Brent from the North Sea gained 0.22% to 45.53 dollars.

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