Investing.com - Financial Markets Worldwide
Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Japanese shares soar as U.S. Fed widens corporate bond buying

Published 16/06/2020, 04:13
© Reuters.
JP225
-
TOPX
-
7211
-
7261
-
4666
-
7272
-
ISHIP.T
-
ISTEL.T
-
ITEQP.T
-

TOKYO, June 16 (Reuters) - Japanese shares gained on
Tuesday, tracking an overnight surge on Wall Street after the
U.S. Federal Reserve widened its corporate bond purchasing
program to support financial markets.
The benchmark Nikkei average advanced 3.32% to 22,244.96
.N225 by the midday break, bouncing back from a near
three-week low hit on Monday.
The Nikkei futures JNMcm1 extended gains by another 0.5%
during the midday recess, after a Bloomberg report https://www.bloomberg.com/news/articles/2020-06-16/trump-team-weighs-1-trillion-for-infrastructure-to-spur-economy
said U.S. President Donald Trump is considering $1 trillion
infrastructure spending to bolster the economy, and the Bank of
Japan maintained its policy stance.
Shares of highly cyclical shippers, steelmakers and
automakers were the top three performing sector subindexes.
All three major U.S. stock indexes closed higher on Monday
after the Fed announced changes to its corporate bond buying
program, applying an indexing approach to its secondary market
corporate credit facility. While investors remained cautious amid resurging cases of
coronavirus infections, the Fed's move boosted risk sentiment.
On the Nikkei index, there were 222 advancers
against three decliners.
Shippers .ISHIP.T and steelmakers .ISTEL.T were the
biggest advancers among the Tokyo Stock Exchange's 33 industry
subindexes, both notching up 5.54%.
Auto maker shares .ITEQP.T were strong, with Yamaha Motor
Co Ltd 7272.T surging 7.65%, Mazda Motor 7261.T up 7.61% and
Mitsubishi Motor 7211.T gaining 7.77%.
In the broader market, Topix .TOPX gained 2.83% to
1,574.12.
Park 24 Co Ltd 4666.T dipped 7.86% after the car park
operator reported its first deficit since listing, hugely hit by
the stay-at-home trend due to the coronavirus outbreak.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.