The Tokyo stock exchange showed a slight improvement again on Tuesday. The technology companies in particular gained ground, following the exchange rate gains among American peers.
Continued concerns about the slow recovery of the Japanese economy due to the country’s slow vaccination program have kept price gains limited. The other Asian stock markets also showed gains.
Tokyo’s leading Nikkei eventually closed 0.7 percent in the plus at 28,553.98 points. The maker of chip equipment Tokyo Electron and chip tester Advantest were among the strongest risers with profits of more than 2 percent. Computer game maker Nintendo and technology group Sony climbed more than 2 percent. Retail company Fast Retailing and tech investor SoftBank, weighing heavily in the main index, won up to 0.8 percent.
Japanese companies that are more focused on the domestic economy were under pressure from reports that the Japanese government wants to extend the state of emergency that expires in late May.
Also in the Japanese capital Tokyo, where the Olympic Games will be held from July 23, the state of emergency will probably be extended until June 20. In addition, the US government advises not to travel to Japan because of the corona situation in the country.
The Chinese stock markets showed a solid recovery. In the meantime, the gauge in Shanghai was 2 percent higher, and the Hang Seng index in Hong Kong rose more than 1 percent. The Chinese tech concern Tencent gained more than 4 percent in Hong Kong. Seoul’s Kospi rose 0.7 percent led by South Korean chipmaker SK Hynix, who achieved more than 2 percent.