TOKYO, Sept. 27 (Xinhua) — Japan’s Nikkei stock common bounced again Tuesday as buyers snapped-up bargains oversold in the day prior to this on considerations charge hikes by U.S. and European central banks would result in a worldwide financial slowdown.
The 225-issue Nikkei Stock Average added 140.32 factors, or 0.53 %, from Monday to shut the day at 26,571.87.
The broader Topix index, in the meantime, gained 8.73 factors, or 0.47 %, to complete at 1,873.01.
Currency officers a day earlier mentioned they had been intently monitoring one-sided foreign money strikes and would intervene into the market once more if essential, as was the case final Thursday, to bolster the yen versus the U.S. dollar.
But sellers mentioned moderately than the dollar-yen pairing, on Tuesday the eye was switched to the pound-dollar strikes.
“Moves in the dollar-yen pair were limited as the market shifted attention to the pound-dollar pair after the British currency slid to an all-time low versus the dollar on Monday,” Tomoichiro Kubota, senior market analyst at Matsui Securities Co., was quoted as saying.
While transportation and retail points discovered traction on hopes for enhance patronage following the federal government right here saying that its COVID-19 border controls could be additional eased subsequent month with the elimination of a 50,000 individual day by day entry cap, the market’s upside was capped by considerations over an upcoming drop in U.S. shares, merchants mentioned.
“Japanese markets will continue to be supported by expectations of a rise in inbound travelers benefiting from a weak yen, as the country lagged behind others in reopening its borders,” Kazuo Kamitani, a strategist on the Investment Content Department of Nomura Securities Co., was quoted as saying.
“But the Tokyo market’s rebound was limited amid fears of a further fall in U.S. and other global shares, with the investment money starting to shift to U.S. short-term debt securities in line with a rise in Treasury yields,” Kamitani mentioned.
By the shut of play, service, air transportation, and meals points comprised people who gained probably the most, and rising points outpaced falling ones by 1,093 to 636 on the Prime Market, whereas 108 ended the day unchanged.
Nikkei heavyweight Fast Retailing, operator of the Uniqlo chain of outfitters lifted the broader market, rising 0.9 %, whereas toy maker Konami Group was the Nikkei’s prime performer, leaping 4 % by the shut.
Plant builder Hitachi Zosen was one other notable winner, including 3.9 % by the shut.
On the Prime Market on Tuesday, 1,145.57 million shares modified fingers, dropping from Monday’s quantity of 1,526.63 million shares.
The turnover on the second buying and selling day of the week got here to 2,673.68 billion yen (18.52 billion {dollars}).