Tokyo Shares End Higher – Solid Tech Issues
Tokyo shares rose on Monday, which is why the Nikkei benchmark index fell to a one-month low last weekend. With the advancement that was driven by technological issues. The Nikkei Stock Average closed at 28,333.52, up 0.74 percent, or 209.24 points. On the Tokyo Stock Exchange, the Topix index stood at 1,986.71, up 0.46 percent, or 9.05 points.
Following the rise in U.S. Treasury revenue, the dollar was firmly in the middle of 114 yen last weekend. The Nikkei returned when investors gained battered stocks; Since Friday, the index has fallen to its lowest level since December 20.
Rallies related to semiconductors have moved forward; After the U.S. technologically heavy Nasdaq index ended its two-day losing streak on Friday. Other significant advances were rubber, mining, products, paper issues, and pulp. Among the chip issues, the Tokyo Electron Blue Chip rose 290 yen to a total of 65,510 yen, up 0.4 percent. The Taiyo Yuden rose to 6,350 yen, or 1.4 percent, to 90 yen.
Tokyo Shares
Crude oil futures rose last week. Idemitsu Kosan rose to 3,150 yen, up 0.3 percent, for a total of 10 yen. Inpex added 34 yen to 1,123 yen, up 3.1 percent. In parallel, some brokers noted; That Nikkei’s achievements in Japan were limited due to the growing uncertainty of norovirus infections. The country saw about 25,700 new infections on Saturday; Thus almost reaching its record high of 25,992; Which was observed on August 20 last year.
The government is considering declaring a state of emergency and Tokyo and three nearby prefectures. Additionally, in emergencies; Canteen establishments are being asked to reduce working hours. Residents are also urged to refrain from moving unnecessarily.
Torikizoku Holdings dropped to 1,740 yen; In total, it fell by 1.9 percent, to 33 yen. Watami fell to 867 yen, for a total of 0.8 percent, to 7 yen. In the first section, the declining issues outweighed the advances from 1120 to 962. 103 ended unchanged. On Friday, the volume of trading on the primary area fell from 1,408.15 million shares to 995.87 million shares.
South Korean Stocks
Shares of South Korea fell to a record low on Monday; For seven weeks. Investors fired the holding due to rising inflationary pressures. KOSPI fell to 2,890.1 points, or 1.09 percent, to a total of 31.82 points. This was the lowest closure since November 30. The volume of trade was moderate. The 571 million shares were worth about 9.8 trillion won. The losers outnumber the winners by 745 to 158. Foreigners sold a net 252 billion won. Institutions downloaded 259 billion won. Retail investors bought 483 billion won.
The primary stock index fell below the 2,900-point level per day. Losses later continued; Against the backdrop of growing concerns about inflationary pressures domestically and in the U.S. Last week, central banks in large countries hinted at the possibility of aggressive monetary tightening this year.
Analysts attribute KOSPI’s losses to the upcoming mega initial public offering of the forthcoming L.G. Energy Solution. Before the IPO launch this month, investors were cashing in revaluation shares to join the process. Unlike their Asian counterparts, local stock exchanges lack liquidity; Due to the upcoming blockbuster IPO event. Markets are also affected by the Fed’s spending policy.
Most of the significant capital was closed at low levels in Seoul, followed by foreign and institutional sales. Hyundai Motor lost 1.91 percent. Kia pulled back 1.31 percent. Samsung Electronics added 0.26 percent. However, SK Hynix fell 1.17 percent. K.B. Financial Group fell 1.61 percent. POSCO fell 2.17 percent. Celltrion fell 6.43 percent.
The regional currency ended at 1192.7 won, contra the U.S. dollar. This is 5.4 won less than the closing rate of the previous session.
