The Japanese Stock Market Ended on Tuesday Again With A Profit

The Japanese stock market ended on Tuesday again with a profit. Investors hope that the end of the corona pandemic is in sight after the positive news about the effectiveness of the new corona vaccine from pharmaceutical company Pfizer.

 

Especially the companies that have been hit hard by the corona crisis, such as the airlines, were in demand. However, many large technology companies, which benefited from working from home, were under pressure.

The Nikkei in Tokyo eventually closed 0.3 percent higher at 24,905.59 points. The Japanese main index already reached its highest level since November 1991, after Joe Biden’s victory in the US presidential election the day before.

The airline’s Japan Airlines and ANA Holdings gained more than 21 percent and more than 18 percent respectively. Other Asian airlines also skyrocketed. In Hong Kong, Cathay Pacific climbed 13 percent, and in Sydney, Qantas gained 8 percent.

The three major Japanese railway companies also benefited from positive vaccine news. East Japan Railway, West Japan Railway, and Central Japan Railway rose to nearly 16 percent.

Japanese computer game maker Nintendo, which saw its sales increase sharply due to the pandemic, lost 4.5 percent. Japanese tech investor SoftBank (minus 4.7 percent) was also set lower, despite better than expected quarterly figures.

The other stock exchanges in the Asian region showed predominantly small gains. The stock market gauge in Shanghai recorded 0.3 percent in the minus in the meantime due to price losses among the large Chinese tech companies. The Hang Seng index in Hong Kong gained 0.5 percent, and in Seoul, the Kospi climbed 0.2 percent. The Australian All Ordinaries in Sydney rose 0.7 percent.

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