Nikkei added 0.96 while Hang Seng yielded 0.71%

The Nikkei, the primary index of the Tokyo Stock Exchange, increased by 0.96% this Tuesday. It resulted from the good performance of technology companies and the weakness of the yen. Such favorable changes benefit Japanese exporter investors.

The Nikkei, grouping the 225 most representative titles on the market, advanced by 279,50 points to 29,441. It has been its best level in a month.

The Topix, which includes the firms in the first section, advanced by 0.8% or 15,73 to stand at 1,975 units.

The pharmaceutical sector registered the main gains

The Tokyo stock market opened higher, and the technology sector started strongly, following the gains of the Nasdaq index on Wall Street the day before. The increase of this stock on the American Stock Market infected its Japanese counterparts with optimism. 

The yen’s weakness against other currencies also contributed to today’s rise in the Tokyo stock market. The trend favors the competitiveness of products and shipments from Japanese exporters when they are repatriated. The dollar stood above 110 Japanese yen.

The pharmaceutical sector registered the main gains of the session, along with the metal and the food industry.

Esai, the pharmaceutical company, brought together the highest volume of operations of the day. The firm experienced the highest rise among companies listed on the Nikkei, with a revaluation of 6.58%. 

NEC, the multinational information and technology company, posted the second-highest increase surging by 5.11%.

Toyota’s shares also posted one of the biggest gains of the day and advanced by 1.76%. Softbank group yielded 0.17%.

Video game developer and distributor Nintendo yielded 0.01%, and chipmaker Tokyo Electron added 1.68%.

In the first section, 1,218 companies advanced compared to 841, which ended with decreases. Meanwhile, 135 shares closed unchanged.

The trading volume amounted to 2.37 trillion yen.

The friction between China and G7 does not fit Hang Seng

The Hang Seng, Hong Kong Stock Exchange benchmark index, closed today with losses of 0.71% after the latest friction between China and Western countries represented in the recent G7 and NATO summits.

The selective lost 203.6 points to 28,638.53. At the same time, the Hang Seng China Enterprises, the index that measures the behavior of mainland Chinese companies listed on the Hong Kong stock market, fell by 0.76%.

All sub-indices closed in the negative territory. The Commerce and Industry sector dropped by 0.3%), the Services yielded 0.6%. Meanwhile, the Finance sector lost 1.18%, and the Real Estate sector depreciated by 1.21%.

In Real Estate, Country Garden tumbled by 2.92%. In Finance, the state-owned Bank of China plummeted by 1.77%, and its local subsidiary, BOC Hong Kong, yielded 1.81%. 

Among digital trading companies, Meituan dropped by 1.56%. In contrast, Alibaba advanced by 0.58%, and Tencent profited 0.67%.

The session has been extraordinary for car manufacturers. Geely added 4.76%, and BYD hiked by 4.66%.

The trading day has been less exciting for the state-owned companies. The oil firm Cnooc contracted by 2.41%, and China Mobile, the telephone operator, shrank by 1.23%.

The business volume of the session was 143,690 million Hong Kong dollars.

Unprecedented criticism confronting China at NATO and G7 meetings 

China was the subject of confrontation and unprecedented criticism at the NATO and G7 meetings. 

The North Atlantic Treaty Organisation stated that the country posed systemic challenges for the transatlantic security alliance. For the first time, NATO made a move to stand up to China’s military ambitions. Besides, the leaders of the organization expressed worries about deepening military ties with Russia.

It was a diplomatic victory of US president Joe Biden. He had urged the thirty-member strong alliance to confront China’s rapidly expanding military, political and economic force.

S&P 500 and the Nasdaq settled with new records

Wall Street ended this Monday in mixed territory. The Dow Jones dropped by 0.25%. However, the selective S&P 500 and Nasdaq ended with new records.

At the close of the NYSE, the S&P increased by 0.18% or 7.71 units to 4,255. 

The Nasdaq Stock Market, listing the leading technology companies, grew by 0.74% or 104.72 points to 14,174. 

Meanwhile, the Dow Jones fell by 0.25% or 85.85 points to 34,393.75. Investors are waiting for the Fed meeting to be held this week and its possible comments on inflation. 

The central bank will hold the meeting on Wednesday, and it will close with a statement from Fed Chairman Jerome Powell announcing interest rates. So far, Powell has maintained that the price hike is temporary and has stated that he does not plan to change central bank interest rates. 

Despite this, investors are on the lookout for any possible change in Powell’s message after the sharp rise in prices in May. 

The Tech sector led the gains on Monday

The technology sector led the increases on Wall Street, adding 1.04%. Communications and industrial companies followed it by rises of 0.74% and 0.48%, respectively. 

On the contrary, the most considerable losses were for commodities companies, financial and industrial companies.

Among the thirty Dow Jones stocks, Salesforce increased by 2.48%, Apple gained 2.46%, and Microsoft added 0.76%. As for the losses, JPMorgan Chase dropped by 1.70%, Walgreens yielded 1.59%, and Dow dipped by 1.53%.

Meanwhile, one of the meme values, the AMC cinema chain, still experienced substantial increases. It advanced by more than 15% amid renewed bets from retail investors coordinated through the internet. 

At the close of Wall Street, the yield of the 10-year Treasury bond increased to 1.499%. It hit a 3-month low last Thursday.