The Tokyo Stock Exchange well oriented in the morning

The Tokyo Stock Exchange went up sharply on Tuesday, July 5, encouraged in particular by speculation on the forthcoming lifting of certain prohibitive American customs duties on Chinese imports, a measure likely to somewhat reduce inflation in the United States. The flagship Nikkei index rose 1.29% to 26,492.06 points around 12:45 a.m. GMT and the broader Topix index gained 0.72% to 1,883.18 points.

With the New York Stock Exchange remaining closed on Monday due to the US national holiday, investors in Tokyo were deprived of their usual compass. However, according to several media, US President Joe Biden, seeking to curb the rise in consumer prices in the United States, could soon decide to lift certain US customs duties on imports of Chinese products. Such an announcement would be welcome for the equity markets.

The oil market continued to advance, still against the backdrop of supply disruptions in producing and exporting countries. The barrel of American WTI gained 1.85% to 110.44 dollars around 00:30 GMT, but the gains were much more modest for the barrel of Brent from the North Sea (+0.13% to 113.65 dollars).

On the foreign exchange market, the yen fell against the dollar, which was worth 135.93 yen around 00:40 GMT against 135.62 yen the day before. The Japanese currency also depreciated against the euro which was trading for 141.74 yen against 141.34 yen on Monday. One euro traded at 1.0427 dollars, against 1.0422 dollars the day before.

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