Tokyo (awp/afp) – The Tokyo Stock Exchange got off to a rebound on Tuesday as investors seized on cheap buying opportunities on the back of recent market declines and a weak yen.
The flagship Nikkei index rose 1.41% to 26,135.01 points around 00:50 GMT and the broader Topix index took 1.45% to 1,845.36 points.
“The values which should benefit from an upward revision (of their financial results, Ed) thanks to the weak yen could be sought”, commented Mitsushige Akino, an official of Ichiyoshi Asset Management quoted by the Bloomberg agency.
Deprived of their usual compass, the New York Stock Exchange, which was closed on Monday, Japanese investors were encouraged by the rebound in European markets the day before and the rise in futures contracts on Wall Street indices. .
Today’s Values
WELL-ORIENTED AUTOMOTIVE: Japanese automotive stocks, whose overseas earnings should notably benefit from the weakness of the yen, found some color: Toyota gained 1.5% to 2,121 yen, Nissan 2.62% to 540.4 yen and Honda 1.03% to 3,315 yen.
On the side of oil and currencies
The oil market was dynamic: around 00:30 GMT the American barrel of WTI gained 1.78% to 111.51 dollars and the barrel of Brent from the North Sea took 1.12% to 115.41 dollars.
On the currency market, the yen was almost stable against the dollar, at the rate of one dollar for 135.02 yen around 00:40 GMT against 135.07 yen on Monday at the end of trading.
The euro/yen rate also barely varied, with one euro worth 142.00 yen against 141.98 yen the day before.
The European currency climbed to 1.0522 dollars against 1.0511 dollars on Monday.
etb/am