Nikkei is Catching Up in the Waiting Region

In Japan, the stock market ended with a significant profit on Wednesday. Japanese investors, who returned after a day off, caught up after the substantial price gains on the global stock markets the day before.

 

The other stock market indicators in the Asian region stayed close to home in anticipation of the election results in the United States, where President Donald Trump appears to be gaining momentum in the closing stages. A definitive result will probably take a while.

Tokyo’s leading Nikkei eventually closed 1.7 percent higher at 23,695.23 points, hitting its highest level since February this year. Japanese electronic equipment manufacturer Fujikura made a price jump of almost 28 percent thanks to better-than-expected results. NTT Data Corp’s figures were also well received. The IT service provider was raised 11 percent.

The stock market gauge in Shanghai was 0.1 percent in the plus. Figures from market researchers Caixin and Markit showed that activity in the Chinese services sector increased further in October compared to September. It was the sixth month of growth in the services sector in a row.

The Hang Seng index in Hong Kong was almost flat. Web-store giant Alibaba fell more than 7 percent in Hong Kong after Chinese regulators put a stop to the IPO of Ant Group.

The financial services company would go public in Shanghai and Hong Kong in what was to be the largest IPO ever. Alibaba has an interest of approximately 33 percent in Ant Group. In Seoul, the Kospi climbed 0.7 percent and the Australian All Ordinaries in Sydney fell 0.1 percent.