The Stock Market in Japan Closed Higher on Wednesday
The stock market in Japan closed higher on Wednesday, continuing its earlier advance.
Investors hope for a rapid recovery of the global economy due to the positive developments surrounding the corona vaccine from pharmaceutical company Pfizer. The other important stock market indicators in the Asian region also predominantly gained ground.
The leading Nikkei in Tokyo ended with a gain of 1.8 percent at 25,349.60 points. The Japanese main index reached its highest level since June 1991, the day before.
Japanese airlines ANA Holdings and Japan Airlines took a step back after the substantial price gains the day before and fell to 2.5 percent. Internet provider DeNA experienced a price jump of more than 12 percent after better than expected half-year figures.
In Shanghai, the main index was 0.3 percent in the minus in the meantime. Chinese internet companies were under pressure after China first established extensive rules to counter monopolistic practices in the sector.
Beijing wants to put a stop to the growing dominance of web store groups Alibaba and Tencent. Alibaba fell 8 percent despite strong sales of the online store during the Chinese bargain festival Singles Day. Tencent lost 5.6 percent.
Hong Kong’s Hang Seng index gained 0.1 percent. The Kospi in Seoul climbed 1.3 percent, and the Australian All Ordinaries in Sydney gained 1.7 percent.