Japan’s stock markets traded higher on April 12, as the yen continues to weaken.
At the end of the day, Nikkei 225 index was up 177.66 points, or 1.1%, at 15,928.79.
The Japanese yen dipped to 108.35 against the US dollar in Asian trade from 107.94 during US trade overnight.
Toyota shares closed higher by nearly 4% after several days of losses, with rival Nissan seeing a 3.2% jump in its shares.
A cheaper yen makes Japanese goods cheaper and more competitive, and is generally seen as a boost for export-related companies.
Shares of brokerage firm Nomura surged 7.4% on reports it plans to cut up to 1,000 jobs in US and Europe. Investors had been worried about Nomura’s non-performing businesses overseas.
In South Korea, the benchmark Kospi closed up 0.6% at 1,981.32.
In Australia, the S&P ASX 200 index also rose, ending the day up 0.9% at 4,975.60.
Hong Kong markets were also higher. By midday, the benchmark Hang Seng was 0.2% higher at 20,482.30.
However, Chinese markets were lower for most of the session and by midday the Shanghai composite index was down 0.7% at 3,014.20. Investors were selling off shares across the board, including telecommunications and property shares.
US stocks closed lower on April 11 after a late sell-off erased gains made earlier in the day. Investors were preparing themselves for a slew of company results this week.
Later this week, investors will be looking out for earnings from America’s biggest banks.
Japan’s shares plunged on February 12, following global markets, after a stronger yen against the dollar hurt the country’s big exporters.
Nikkei 225 fell as much as 5.4% in early trade. By the close, the benchmark index had recovered slightly, but was still down 4.85% to 14,952.61 points.
That was below the psychologically important level of 15,000 points and its lowest close since October 2014.
Today’s losses end what has been a turbulent week of trade for Japan.
The index has shed more than 11% over the trading week, which was short because of a public holiday on February 11.
Japan’s big exporters were hurt on February 12 as the dollar fell to a 15-month low against the yen. A stronger yen against the dollar hurts Japan’s exporters, as it makes their products more expensive to purchase overseas.
Auto maker Toyota finished Japan’s trading day down 7%, while Honda lost 5.5% and Nissan shed 5.8%.
Overnight, benchmark indexes in London, the US and Europe posted sharp declines amid continued worries about oil prices and over the strength of the global economy – particularly the outlook for the world’s largest economy, the US.
US Federal Reserve chair Janet Yellen’s gloomy economic assessment on February 10 was continuing to hurt investor sentiment around the world, analysts said.
Janet Yellen said financial conditions in the US had become “less supportive” of growth, dousing hopes of a second rise in interest rates in the near future.
Japan stock market hit a one-year low in January 18 trade following big falls in the US and as oil prices dropped below $28 a barrel for the first time since 2003.
The benchmark Nikkei 225 closed down 1.1% at 16,955.57 – its lowest close in a year.
In Australia, investors also reacted to falling oil prices.
The benchmark S&P/ASX 200 closed down 0.7% at 4,858.70, with energy-related stocks and banking shares weighing on the index.
BHP Billiton shares fell 3%, Woodside lost 2.6%, and Santos shares fell 8.4%.
Australia’s big lenders also saw falls on January 18, with ANZ’s shares down 2% and Westpac’s down 1%.
In South Korea, the benchmark Kospi index closed flat at 1,878.45 after spending much of the day in negative territory.
In China, analysts said they expected markets to be hurt further this week by falling oil prices, together with continued worries about the country’s economic growth. China’s latest quarterly gross domestic product numbers are out on January 19.
Housing data released on January 18 showed house prices rose 1.6% in December from a year earlier. China’s housing market accounts for about 15% of the economy and the latest numbers mark the third consecutive month of year-on-year gains.
Hong Kong’s Hang Seng index closed down 1.5% at 19,237.45, while the Shanghai Composite finished the day 0.44% higher at 2,913.84.
Japanese shares rose to a two-month high on Friday, October 30, after Bank of Japan decided to keep its monetary easing policy steady.
The benchmark Nikkei 225 initially fell on the decision by more than 0.4%.
The index recovered to close up 0.78% at 19,083.1 points.
BoJ’s 2% inflation target was also pushed back by about six months.
While forecasts for economic growth for the year to March 2016 were also lowered to 1.2% from 1.7%.
Japan’s central bank governor Haruhiko Kuroda told reporters on October 30 the inflation target timing had been delayed “largely due to the effect of energy price falls”.
The BoJ’s current stimulus package is designed to give a boost to the world’s third-largest economy.
Private consumption makes up some 60% of Japan’s economic activity, but the country has struggled with deflation, or falling prices, for more than 15 years. Lower prices for goods in Japan have seen consumers hold on to their money in the hope of even lower prices later on.
The stimulus package is designed to encourage lending, which in turn should see consumers spending more.
Earlier on Friday, a string of domestic data showed Japan’s core consumer inflation number had fallen 0.1% in September from a year ago, household spending had fallen 0.4% year-on-year while unemployment had remained steady at 3.4% compared to August.
The data fuelled some speculation the BoJ would make a move. But eight out of nine board members voted in favor of the decision.
Japan’s stock market headed higher on September 17 despite trade data for August coming in below market expectations.
Japanese exports rose 3.1% from a year ago, falling short of the 4% predicted, while imports fell a more-than-expected 3.1% in the same period.
Investors also ignored a credit rating downgrade for Japan by S&P rating agency, because of a weakening outlook for the economy.
Japan’s benchmark Nikkei 225 index closed up 1.4% to 18,432.27.
Photo Getty Images
The index has risen for a third consecutive day.
Australian shares headed higher, following the global lead, after US shares were positive ahead of the Federal Reserve’s decision on whether to raise interest rates for the first time in almost a decade.
In Sydney, the S&P/ASX 200 index closed up 0.9% to 5,146.80 points.
Chinese shares headed higher, following on from yesterday’s trend, when mainland shares rallied to close up nearly 5%.
The Shanghai Composite was up 1.6% to 3,202.42, while Hong Kong’s Hang Seng index was higher by 0.6% at 22,089.24 in afternoon trade.
South Korea’s benchmark Kospi index finished trading flat at 1,976.49 as investors awaited the Fed’s decision.
Japan’s stock market closes up almost 8% on September 9 in its biggest one-day jump since late 2008.
Nikkei 225 index closed up 7.71% at 18,770.51 points.
On September 8, the benchmark index saw all the gains it had made this year wiped out.
Remarks by newly re-elected PM Shinzo Abe suggesting company tax cuts were on the way helped the mood.
Also positive were September 8 rebound for US shares and an improving Chinese share market.
Investor sentiment was up across the rest of Asia.
Tuesday’s weak economic data from China has also raised hopes of more stimulus for that economy and its markets.
Hong Kong’s benchmark Hang Seng index finished up 4.1% at 22,131.31 – marking its biggest one-day percentage gain in almost four years.
China’s government said on September 9 that it would strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system to support the economy.
On the mainland, the Shanghai Composite closed up 2.3% at 3,243.09 – moving into positive territory for the year.
In Australia, the S&P/ASX 200 closed up 2.07% at 5,221.10, taking its lead from US markets.
Analysts said resource and commodity shares, together with some of the big bank stocks, had buoyed the Australian index.
Numbers out on September 9 showed consumer confidence slid in September which led to revived hopes of another rate cut by the Reserve Bank of Australia.
South Korea’s Kospi benchmark index also closed up 2.96% at 1,934.20 points. Official data released on September 9 showed the country’s latest unemployment figures for August sitting at their lowest since January this year.
Japanese markets show a little change after PM Shinzo Abe was given a vote of confidence for his economic policy known as “Abenomics”.
As widely predicted, Shinzo Abe has won a majority in parliament’s upper house in Sunday’s elections, according to exit polls.
After climbing 1.2% in early trading, the benchmark Nikkei 225 fell back to be level for the day at about 14,590.
Analysts said the outcome had already been factored into trading strategies.
Since becoming prime minister late last year, Shinzo Abe has introduced policies aimed at ending long-running deflation in Japan and boosting growth.
“We’ve won the public’s support for decisive and stable politics so that we can pursue our economic policies, and we will make sure to live up to the expectations,” Shinzo Abe told public broadcaster NHK after he was projected to win.
Japanese markets show a little change after PM Shinzo Abe was given a vote of confidence for his economic policy
Analysts said Shinzo Abe could now work to implement painful economic reforms referred to as the “Third Arrow” of his set of policies. The first two arrows were an ultra-loose monetary policy and government spending.
“It raises expectations that legislation will pass more easily and he can focus on revitalizing the economy,” said Takuya Takahashi from Daiwa Securities.
Takuya Takahashi added that foreign investors were reacting positively to the prospect of Japan’s first stable government since 2006.
“The likelihood that there will be no national election for the next three years is positive,” he said.
“What investors are looking for is a stable government and they are watching how Abe can tackle deflation.”
Japan has seen much political upheaval because of a “twisted parliament” where the opposition had control of the upper house.
NHK said early on Monday that Shinzo Abe’s Liberal Democratic party and its coalition partner had won a comfortable majority in the chamber.
Shinzo Abe’s policies so far have been well received by investors, with the Nikkei up about 40% this year.
The yen has also weakened in value about 15%, making exporters more profitable.
Analysts said whether the gains in the Nikkei can be extended depends on whether the dramatic structural reforms will go ahead.