Nikkei closed at one month high on Monday

Nikkei closed at one month high on Monday

Japanese shares increased on Monday and closed at a one-month high. It resulted from declining concern about US monetary stimulus tapering in the short term. As a result, the Nikkei Stock Exchange Average advanced by 0.74 or 213.07 points to 29,161.80. It has been the highest increase since May 10. 

The rise came as Wall Street closed modestly higher on Friday. Hiroshi Watanabe, a senior economist at Sony Financial Holdings, stated that Japanese shares are still following global stocks. However, things could improve after speeding up vaccinations since the county hopes to have 60% of the population vaccinated by August. 

Marine transportation, rubber products, and metals led the gains. 

Nippon Yusen increased by 2.3%. As for tire markets, Bridgestone added 1.3%, and Yokohama Rubber surged by 2.9%. 


Growth-led equities outperformed today

Boosting of the US shares supported the growth-oriented stocks, which outperformed today. 

MP3 increased by 4.5%. At the same time, Fanuc advanced by 3.2%. Keyence Corporation, the manufacturer of sensors and vision systems, raised by 2.72%, and the technological Softbank increased by 0.70%. 

Kobe Bussan, Japan-based food production, and distribution company shares, grew by 11.1%. 

As for the internet-sensitive banking sector, it has dropped after US treasury yields posted their most significant weekly decreases. 

MUFG lost 1.0%, and Mizuho Financial Group decreased by 0.9%.

Game company Gumi plunged by 15.8%. It followed an announcement of resignation by its founder, who still owns more than 10% of the company.

Fast Retailing, the owner of Uniqlo, added 2.27%. Meanwhile, electrical components shares enjoyed 2.22%. 

On the contrary, N8intendo, the video game developer and distributor, decreased its values by 3.08%. 

In the first section of the trading, 1,153 companies experienced a rise. Meanwhile, 901 shares plunged, and 139 closed unchanged. 

The trading volume of the session amounted to 1.9 trillion yen. 

The post Nikkei closed at one month high on Monday appeared first on FinanceBrokerage.

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