Business & Investment

Japanese stocks are rising as strong earnings boost sentiment

Wall Street’s tech-led backlash and strong domestic earnings forecasts pushed up market sentiment, with Japanese stocks continuing to rise on Wednesday, with transport stocks driving the rise.

The Nikkei Stock Average rose 1% to 28,646.50, and the broader Topix rose 1.3% to 1,871.09.

“The strong earnings of global IT companies have boosted investors’ expectations for better earnings of Japanese companies, but there are concerns about the short-term pressure it causes. We Individual investors have been erased. ” Koichi Kurose, Chief Strategist of Resona Asset Management.

US stocks surged for the second straight night, supported by the rise in stocks. Amazon.com And Google’s parent company Alphabet is optimistic about the development of the US pandemic bailout package ahead of the results.

All except one of the 33 sector subindexes above Tokyo The exchange traded higher, with pandemic airlines and land transport stocks leading profits.

Japan Airlines ANA Holdings increased by 2.9%, while it increased by 6.56%.

Central Japan Railway Company, the operator of the Shinkansen that connects Tokyo and Osaka, increased by 5.47%. West Japan Railway Company rose 6.86% and East Japan Railway Company rose 5.48%.

Transport shares were supported by the expectation that a reduction in daily COVID-19 infections would boost travel, Kurose said.

Japan We aimed to extend the emergency situation in Tokyo and other regions by another month on Tuesday to keep the COVID-19 outbreak predominant, but the daily number of cases began to decline.

Mitsubishi Motors led the Nikkei 225 index up by 11.34% after lowering its annual net loss forecast on Tuesday.

Panasonic rose 3.84% after the electronics conglomerate announced the supply of its battery business Tesla, Inc. It turned profitable this term and halved its full-year operating income forecast.



Japanese stocks are rising as strong earnings boost sentiment

https://economictimes.indiatimes.com/markets/stocks/news/japanese-shares-end-higher-as-robust-earnings-lift-sentiment/articleshow/80666393.cms Japanese stocks are rising as strong earnings boost sentiment

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