Tokyo Shares Close Up After US Rose
Tokyo stocks improved on Thursday. Investors took heart from the increase on Wall Street for a second session following solid US consumer data. The Nikkei 225 was up 28,798.37, up 0.83 percent, for a total of 236.16 points. The Topix index rose to 1989.43, or 0.91 percent, for a total of 17.92 points.
Strong US economic performance has boosted fuel growth in economically sensitive stocks. In parallel, Japan is preparing for the expected spread of the Omicron coronavirus variant. The country announced several cases of omicron of unknown origin this week. The market is optimistic at this point. However, there are concerns about spreading a new variant of the coronavirus. Especially at the end of the year and the New Year season when people are traveling, moving.
Nippon Steel rose 1.35 percent. Sumitomo Chemical Co. Increased by 1.50 percent. Sony Group rose 2.05 percent. Toyota rose 1.95 percent. SoftBank Group offset an earlier loss and closed 0.39 percent. ANA Holdings rose 2.33 percent.
Drugmaker Eisai fell 9.06 percent. This comes after the Japanese Ministry of Health postponed deciding whether a Japanese pharmaceutical firm and Biogen jointly developed Alzheimer’s treatment. Hitachi fell 3.15 percent after the company said that its subsidiary had discovered inappropriate behavior concerning some components of the Japanese-made brake.
European Stocks
European stocks have risen for the third day. Recent coronavirus studies have raised optimism that economic growth could withstand omicron risks. The Stoxx Europe 600 rose 0.4% to a two-week high. One of the most significant gains was leisure, travel, and banking.
According to preliminary data from studies, the omicron variant appears to cause less hospitalization than the delta strain. Pfizer’s Covid-19 Abb has been authorized for emergency use in the United States. This makes it a more convenient treatment option for at-risk patients. In parallel, AstraZeneca Plc stated that its enhancer significantly increased the level of antibodies against omicron.
European stocks have been rising in recent days since they came under pressure. The Omicron option has led to new restrictions. There have also been drastic changes in the policy of the central bank. However, many core asset managers continue to take advantage of stocks and see them as the best way to repay them as low bond yields. While stocks are rising in recent days, volumes are declining ahead of the holidays.
After signing a deal to buy Sisal for a $2.2 billion sale, Flutter Entertainment has risen. At the same time, shares of Prosus NV rose in Amsterdam. This reflects the achievements of Tencent Holdings after it announced a special dividend by issuing a $16 billion stake in JD.com. Koninklijke Philips NV leaped after announcing an update on fans recalled due to health problems.
Hong Kong Stocks
Hong Kong shares closed higher on Thursday. After extending earnings from the previous session, the Hang Seng Index rose 0.4% to 23,193.64. China Enterprises Index rose 8204.31, a total of 0.2 percentage points. Shares of Hang Seng sub-index trekking material increased by 2.8%. The energy sector saw growth of 2.1%.
The technology sector has fallen. Shares of JD.com fell 7% after Tencent Holdings announced that it would transfer most of its $16.4 billion stakes in JD to its shareholders in the form of dividends. Tencent jumped 4.2%.
In recent sessions, signs of policy easing from Beijing have boosted the property sector. The mood was also alleviated by fears about the Omicron version of COVID-19. The CSI300 index closed 0.7% higher. MSCI Asia’s former Japan stock index rose 0.8%.
