Tokyo (awp / afp) – The Tokyo Stock Exchange rebounded Friday morning, after dropping almost 3% the day before at the close, panicked like Wall Street before it by a new signal of firmness from the US Federal Reserve (Fed) to counter inflation.
The flagship Nikkei index gained 0.97% to 28,764.36 points around 01:00 GMT and the extended Topix index recovered 0.71% to 2,011.14 points.
The New York Stock Exchange lost ground again on Thursday but its losses were only marginal compared to the previous session.
And in Tokyo on Friday, investors were back on the hunt for bargains, to take advantage of the drop in prices the day before. All the major sectors of activity on the Nikkei were thus in the green.
On the side of values
HONDA: The stock of the car manufacturer Honda climbed 1.05% to 3,444 yen, showing a positive trend like other Japanese car stocks. Honda announced Thursday the construction of a new plant in China through its local joint venture with Dongfeng, which will be exclusively dedicated to the production of electric vehicles for the Chinese market.
The site, which will be installed in Wuhan (central China), is due to start production in 2024 with an annual capacity of 120,000 vehicles. China is one of the main markets for Honda, which in 2020 has set itself the goal of becoming 100% electric by 2040 worldwide.
On the currency and oil side
The yen fell against the dollar, a favorable movement for Japanese exporting stocks, at the rate of one dollar for 115.94 yen at around 1:00 a.m. GMT against 115.83 yen on Thursday at 9:00 p.m. GMT.
The Japanese currency also fell against the euro, which was worth 131.00 yen against 130.85 yen the day before.
One euro was trading for $ 1.1297, a perfectly stable rate compared to Thursday at 9:00 p.m. GMT.
Oil was up very slightly: shortly before 01:00 GMT, the price of a US barrel of WTI advanced 0.1% to 79.54 dollars.
etb / elm