Investing.com - Financial Markets Worldwide
👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Tokyo shares track Wall Street higher on upbeat U.S. economic data

Published 30/06/2020, 04:48
© Reuters.
USD/JPY
-
JP225
-
TOPX
-
7201
-
7267
-
3402
-
7408
-
INFRO.T
-
ISHIP.T
-
ISTEL.T
-

TOKYO, June 30 (Reuters) - Japanese shares rose on Tuesday,
as overnight Wall Street gains on stimulus hopes and
better-than-expected U.S. economic data bolstered investors'
risk appetite.
The benchmark Nikkei average .N225 rose 1.76% to 22,381.22
by the midday break, while the broader Topix .TOPX rose 1.21%
to 1,567.90, both rebounding from the lowest close hit in the
previous session.
Wall Street shares closed higher on Monday, as investors
pinned hope on more economic stimulus as COVID-19 cases
continued to rise. MKTS/GLOB
U.S. pending home sales data showed a quick recovery in
housing market activity in May, with contracts to buy previously
owned homes rising by the most on record to 44.3%. All but one of 33 sector sub-indexes on the Tokyo exchange
traded higher on Tuesday, with highly cyclical shippers
.ISHIP.T , iron and steel .ISTEL.T and non-ferrous metals
.INFRO.T being the top three performing sectors.
The yen JPY= softened against the dollar to 107.70,
providing a tailwind for Japan's automaker stocks, with Honda
Motor Co Ltd 7267.T climbing 3.03% and Nissan Motor Co Ltd
7201.T adding 2.51%.
Shares of Tokyo-listed aircraft components makers tracked
U.S. peers higher, after a 14% surge in Boeing Co's stock BA.N
after the company began its certification flight testing of a
737 MAX. Jamco Corp 7408.T jumped 6.11%, while Toray
Industries Inc 3402.T advanced 3.33%.
The market showed little response to Chinese factory
activity data which increased at a stronger than expected pace
in June.
China's official manufacturing Purchasing Manager's Index
expanded to 50.9 in June from 50.6 in the previous month but
export orders remained weak, suggesting the economy is still
battling with uncertainties amid economic recovery.

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.