Tokyo (awp/afp) – The Tokyo Stock Exchange opened sharply higher on Monday, appreciating the large victory of the ruling coalition in Japan in the by-elections to the Senate on Sunday, which will strengthen the stability of the government of Prime Minister Fumio Kishida .
The flagship Nikkei index gained 1.89% to 27,018.49 points after 01:00 GMT and the broader Topix index gained 1.76% to 1,920.65 points.
Mr. Kishida’s political formation, the Liberal Democratic Party (PLD, nationalist right) and its ally the Komeito won more than 75 of the 125 seats that were to be filled in the Upper House of Parliament on Sunday, thus increasing the majority of which they already had before.
The ballot was held in a dark context, two days after the shooting assassination of former Prime Minister Shinzo Abe during an election rally in Nara (western Japan).
Today’s Value
A NEW SCANDAL AT TORAY? The stock of Japanese carbon fiber giant Toray tumbled 7% to 695 yen. According to exclusive information from the Japanese media Diamond Online, the Japanese Ministry of Land, Infrastructure and Transport has opened an investigation into building materials that a subsidiary of Toray allegedly sold for nearly 20 years without respecting certain quality requirements.
Toray had already revealed a similar case on other of its products earlier this year.
On the side of oil and currencies
The oil market was once again caught up in concerns about a possible recession in the United States and the slowdown in the Chinese economy due to Covid-19. Around 00:50 GMT the barrel of American WTI lost 0.23% to 104.55 dollars, while the barrel of Brent from the North Sea gained 0.17% to 107.20 dollars.
On the currency market, the dollar rose to 136.53 yen around 01:00 GMT, against 136.10 yen on Friday at 21:00 GMT.
On the other hand, the European currency fell very slightly against the yen, at the rate of one euro for 138.58 yen against 138.62 yen on Friday.
And the euro fell to 1.0149 dollars against 1.0185 dollars at the end of last week.
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