The Japanese stock exchange started the shortened trading week with a profit on Monday. In particular, the airlines were picked up again by the hope of a strong economic recovery from the corona crisis in Japan.
Thanks to the strong results and outlook of the American industry peer Applied Materials, the chip companies were also in demand. The other stock market indicators in the Asian region mainly showed losses.
The Nikkei in Tokyo finished 0.5 percent higher at 30,156.03 points, breaking a three-day loss series. The Japanese stock exchange will remain closed on Tuesday due to the Emperor’s birthday. Airlines ANA Holdings and Japan Airlines climbed around 5 percent after the recent price losses.
Chip concern Tokyo Electron gained 6 percent following the price gains among European and American industry peers on Friday. The chip sector is benefiting from the high demand for chips for laptops and computers, for example, because of lockdowns and working from home.
In Shanghai, the stock exchange was 0.3 percent lower in the meantime. The Chinese central bank kept key interest rates for one- and five-year loans unchanged at 3.85 and 4.65 percent, respectively. Hong Kong’s Hang Seng index fell 0.2 percent. Internet company Alibaba fell 1.7 percent in Hong Kong.
According to media reports, Beijing is further increasing pressure on Ant Financial, a subsidiary of Alibaba, with new rules. Companies that offer digital loans in collaboration with banks must contribute 30 percent of the loan amount from the financial regulator.
