Home/Central banks/Commodities/FX/Newsfeed

Japanese Stocks Rise on Weak JPY and Tax Hike Delay News

Share Print 0

Tokyo stocks rose Monday, with the Nikkei index climbing above the 17,000 line for the first time in roughly a month, on the yen’s depreciation and the growing likelihood that a planned consumption tax hike next year will be delayed.

The 225-issue Nikkei Stock Average ended up 233.18 points, or 1.39 percent, from Friday at 17,068.02, a roughly one-month high. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 16.08 points, or 1.19 percent, higher at 1,366.01.

Every industry category on the main section except air transportation, and iron and steel issues gained ground, led by pulp and paper, transportation equipment, and glass and ceramic product issues.

Tokyo stocks remained on a solid note throughout the day as the yen fell against the U.S. dollar.

On Friday at an event at Harvard University, U.S. Federal Reserve chair Janet Yellen said an interest rate rise would be appropriate in the “coming months” if the U.S. economy continued to improve.

via Mainichi

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top