The stock exchange in Japan started the new trading week with a solid profit on Monday. Investors rallied on the Chinese stock markets, fueled by hopes of a strong recovery in the world’s third-largest economy.
The continuing rise in the number of corona infections worldwide caused speculation about further support measures from central banks.
The main index in Tokyo, the Nikkei 225, ended 1.8 percent higher at 22,714.44 points. The Japanese companies that generate a lot of turnover from China were particularly popular due to speculation that the Chinese economy is less affected by the corona crisis, given the relatively low number of corona cases in the region.
Nissan automaker, which sells many vehicles in China, increased more than 5 percent. Heavyweight SoftBank rose more than 2 percent due to the hope that the Japanese telecom group and tech investor will buy back its own shares.
The stock market gauge in Shanghai posted an interim profit of more than 5 percent, and the Hang Seng index in Hong Kong gained more than 3 percent.
The substantial advance came against the backdrop of a record increase in the number of global corona cases. The World Health Organization (WHO) reported a total of over 200,000 new cases in a day last Saturday.
The most massive increases were seen in the United States, Brazil and India. The Kospi in Seoul rose 1.6 percent. The Australian All Ordinaries in Sydney was left with a loss of 0.4 percent.
