Tokyo (awp/afp) – The Tokyo Stock Exchange started up on Tuesday, despite a very mixed session the day before on Wall Street, investors preferring to welcome positive corporate results in Japan, the fall in the yen and the US-Japan steel agreement.
The flagship Nikkei index climbed 0.65% to 27,427.00 points around 01:00 GMT and the broader Topix index took 0.7% to 1,939.46 points.
On the side of values
SOFTBANK GROUP: according to information from the Financial Times, the American Nvidia has given up for good on acquiring the British manufacturer of Arm microprocessors, which SoftBank Group (+0.33% to 5,368 yen) was to sell to it for tens of billions of euros.
This huge operation had been very compromised for months due to the strong reluctance of regulatory authorities around the world. Asked by AFP on Tuesday, SoftBank Group and Nvidia declined to comment on this information. The Japanese giant of new technologies must publish its quarterly results on Tuesday.
GALVANIZED STEEL STOCKS: Stocks of Japanese steel producers were boosted by an agreement between Washington and Tokyo announced on Monday, under which the United States will remove its tariffs on a large quota of Japanese steel imports.
Japan was among many countries that were imposed, in June 2018, additional tariffs of 25% on steel and 10% on aluminum by US President Donald Trump.
The Nippon Steel action notably jumped 2% to 2,006.5 yen, while JFE Holdings gained 1.3% to 1,555 yen.
On the side of currencies and oil
The yen fell against the dollar, a favorable exchange rate movement for Japanese export stocks: a dollar was trading for 115.27 yen shortly before 01:00 GMT, against 115.10 yen on Monday at 21:00 GMT.
The Japanese currency also depreciated against the euro, which was worth 131.90 yen against 131.70 yen the day before.
The euro/dollar rate was stable, one euro trading for 1.1439 dollars against 1.1442 dollars on Monday at 9:00 p.m. GMT.
Oil was in a mini-downturn: around 00:50 GMT the price of a US barrel of WTI fell 0.07% to 91.26 dollars.
etb/am