Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%USDC1.000.01%BNB287.900.44%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Japan’s Nikkei hits 32-year high as US default concerns fade.

A man walks past an electronic board showing Japan's Nikkei average and stock prices outside a brokerage
A man walks past an electronic board showing Japan's Nikkei average and stock prices outside a ... A man walks past an electronic board showing Japan's Nikkei average and stock prices outside a brokerage, in Tokyo, Japan, March 17, 2023. REUTERS/Androniki Christodoulou
A man walks past an electronic board showing Japan's Nikkei average and stock prices outside a brokerage
A man walks past an electronic board showing Japan's Nikkei average and stock prices outside a ... A man walks past an electronic board showing Japan's Nikkei average and stock prices outside a brokerage, in Tokyo, Japan, March 17, 2023. REUTERS/Androniki Christodoulou

The benchmark Nikkei market closed at a three-decade high on Friday after U.S. lawmakers approved raising the debt ceiling and central bankers signaled they would not tighten monetary policy.

SoftBank Group Corp (9984.T) climbed 4.3% on expectations its chip unit will benefit from artificial intelligence spending. T&D Holdings, Inc. (8795.T) rose 4.28% as U.S. default worries receded.

The Nikkei index (.N225) rose 1.21% to 31,384.93, its best closing since July 1990. .TOPX gained 1.55% to 2,182.70.

After strong labor market data, U.S. equity indices closed at their highest levels since August 2022.

The Senate voted for bipartisan legislation endorsed by President Joe Biden to raise the $31.4 trillion debt ceiling, preventing a first-ever default.
Governor Kazuo Ueda told lawmakers in Japan that the central bank has no timeline for reaching its 2% inflation target.

For the ninth straight week, the Nikkei rose 2%. On Friday, 202 of its stocks climbed, and 16 declined.

“Despite the rise in the Nikkei, there’s been a trend where decliners on the Prime Market outnumbered gainers,” said Nomura Securities strategist Maki Sawada.

“However, in the Nikkei’s climb over the past few days, the number of stocks gaining price has been increasing, so that suggests the index is being bought more broadly,” she noted.

Papermakers and transport equipment businesses led the Tokyo Stock Exchange’s 33 industry categories with gains of 2.6%.ISHIP.T was flat.


Comment Template

You May Also Like

Business

On Monday, the Nikkei share average reached its highest level in 33 years as Wall Street rallied and investors gambled on domestic equities expecting...

Business

A U.S. debt ceiling deal and a cheaper currency lifted Japan’s Nikkei share average to its highest level since July 1990 on Monday. Japanese...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok