In-article:

Tokyo is treading water, held back by profit taking


Tokyo (awp / afp) – The Tokyo Stock Exchange stagnated on Tuesday at the start of the session, digesting new signs of a slowdown in the American economy and releasing ballast after having reached its highest closing level since the beginning of January the day before.

After a start in the red, the flagship Nikkei index stabilized (-0.01% to 28,867.55 points after around 01:00 GMT) while the broader Topix index yielded 0.17% to 1,981.51 points.

Several poor macroeconomic indicators released on Monday, first in China and then in the United States, again fueled fears for the global economy.

Wall Street, however, ended up Monday, counting on a policy of the US Federal Reserve (Fed) less radical against inflation in the face of the deterioration of the economy in the United States.

Today’s value

PANASONIC: Panasonic (+0.08% to 1,130 yen) plans to increase its production of electric batteries for Tesla in the United States by 10% by 2024, the Japanese economic daily Nikkei said on Monday without citing sources.

This effort should be carried out in Tesla’s first “Gigafactory” in Nevada (western United States), operated jointly with Panasonic, according to the Nikkei. The Japanese group recently announced the construction of a new battery factory in Kansas (Midwest) but this site should not be operational before 2024 at the earliest.

On the side of oil and currencies

Oil prices continued to fall sharply on Tuesday morning in Asia: around 00:45 GMT the barrel of American WTI dropped 1.02% to 88.50 dollars and the barrel of Brent from the North Sea yielded 1.17% to 93.99 dollars.

On the foreign exchange market, the dollar fell against the yen, at the rate of one dollar for 133.21 yen around 00:55 GMT against 133.32 yen Monday at 21:00 GMT.

The European currency also depreciated slightly against the Japanese currency, one euro being worth 135.23 yen against 135.45 yen the day before.

In addition, one euro traded for 1.0153 dollars against 1.0160 dollars on Monday at 9:00 p.m. GMT.

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