Japanese Nikkei index
The Japanese Nikkei index rose, on Tuesday, supported by the rise of US stocks last night, but caution prevailed in dealings with the approaching season of announcing the results of local companies’ business operations to its peak.
The best-performing stocks were driven by financial results and showed no signs of other major factors driving the markets, however a weaker yen supported automakers.
The Nikkei index closed up 0.38 percent at 32,377.29 points, after a quiet session in afternoon trading. Among the 225 stocks listed on the Nikkei index, 164 rose, 58 declined, while three remained unchanged.
The broader Topix index rose 0.34 percent to close at 2,291 points.
“It will be very difficult to push Japanese stocks higher at the moment,” said Maki Sawada, a strategist at Nomura Securities, as the earnings season peaks on Thursday and the market will be closed for a holiday on Friday.
Nissan shares rose 1.06 percent and Honda 1.2 percent, as the weak yen boosted the value of overseas revenues. On the other hand, Toyota shares fell 0.84 percent.
Chip testing equipment maker Advantest was the biggest pressure on the Nikkei index, falling 4.21 percent, deducting 53 points from the index.
#Japan
Japanese Nikkei index
2023-08-08 07:55:59
#Japans #Nikkei #rises #anticipation #corporate #earnings
