The Stock Market in Japan Closed Slightly Higher on Tuesday
The stock market in Japan closed slightly higher on Tuesday. The other major stock market indicators in the Asian region showed a mixed picture.
Investors slowed down a bit after substantial price gains the day before, following the major trade deal between China, Japan, South Korea and 13 other countries in the region.
The positive news about the effectiveness of the corona vaccine from the American pharmaceutical company Moderna also provided some support for the trade.
The leading Nikkei in Tokyo ended the day with a plus of 0.4 percent at 26,014.62 points. The Japanese main index already managed to gain more than 12 percent this month, hitting its highest level since May 1991.
Japanese airlines, in particular, benefited from the news that, according to preliminary research results, the Moderna vaccine seems to be 94.5 percent effective in the prevention of contamination. ANA Holdings added more than 4 percent and Japan Airlines rose nearly 4 percent.
In Shanghai, the stock market was 0.3 percent lower in the meantime, and the Hang Seng index in Hong Kong remained almost flat. Airline Cathay Pacific climbed more than 6 percent in Hong Kong. In Seoul, the Kospi fell 0.2 percent.
In Sydney, where trading resumed after the technical failure a day earlier, the All Ordinaries won 0.2 percent, led by Australian oil companies.