Tokyo (awp / afp) – The Tokyo Stock Exchange was on the rise on Friday morning after being shaken the day before by the announcements of the American Federal Reserve (Fed) on the next tightening of its monetary policy.
After falling 3.11% on Thursday, the Nikkei index of 225 Japanese star stocks rose 1.59% to 26,587.49 points around 01:15 GMT.
The broader Topix index gained 1.43% to 1,868.87 points.
Fed Chairman Jerome Powell confirmed that the institution was planning to raise its key rates in March, without specifying the size of the increase envisaged or the timetable for the reduction of its monetary support, which made investors nervous on Thursday.
But “if we look at the technical indicators, we see that Japanese stocks have been oversold” in the wake of the Fed’s press conference, commented Nobuhiko Kuramochi of Mizuho Securities, quoted by the Bloomberg agency.
Japanese securities “have fallen too sharply if we take into account the results of not bad (Japanese) companies, and also in comparison with American values”, he added.
On the side of values
SOFTBANK GROUP: the title of the giant of investments in new technologies SoftBank Group fell 0.14% to 4,685 yen after having tumbled 9% the day before as part of a debacle in technology stocks in Asia.
SoftBank’s Chief Operating Officer, Marcelo Claure, is also said by several media to be on the verge of leaving the group because of disagreements over his emoluments with the CEO and founder of SoftBank, Masayoshi Son.
RENAULT-NISSAN-MITSUBISHI: the Alliance of car manufacturers Renault, Nissan (+0.71% to 595.1 yen) and Mitsubishi Motors (+1.62% to 312 yen) announced Thursday that it would invest 23 billion euros in the electrification of its vehicles over the next five years to be able to release 35 new electric models by 2030.
This is the confirmation of a strong acceleration of the Alliance in electrification: its three members have invested a total of more than ten billion euros in this area so far.
On the side of currencies and oil
The yen fell against the dollar, at the rate of one dollar for 115.46 yen around 01:15 GMT against 115.37 yen Thursday at 21:00 GMT.
The Japanese currency followed the same trajectory against the euro, which was worth 128.67 yen against 128.58 yen the day before.
One euro traded for 1.1145 dollars, as on Thursday.
The oil market progressed: around 01:10 GMT the price of a barrel of American WTI gained 0.53% to 87.07 dollars and that of a barrel of Brent from the North Sea rose by 0.44% to 89.73 dollars.
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