The Stock Exchange in Japan Closed With A Solid Profit on Thursday

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The stock exchange in Japan closed with a solid profit on Thursday, breaking through a three-day loss series. Japanese banks and insurance companies were top-rated, following the substantial price gains among European and American peers.

 

The other stock market indicators in the Asian region also primarily improved. The Chinese stock markets have lagged behind due to mounting tensions with the United States over Chinese companies owned or controlled by the Chinese military.

The Democrats’ second-round victory in the Georgia Senate elections also fueled hopes that incoming President Joe Biden will be able to set up massive bailout packages to get the US economy through the corona crisis more quickly. The storming of the Capitol in Washington by angry Trump supporters had little impact on stock market trading.

Tokyo’s leading Nikkei finished 1.6 percent higher at 27,490.13 points, hitting its all-time high since August 1990. The sharp rise in US Treasury yields due to expected higher government spending pushed Japanese banks and insurance companies into investors are in US debt securities.

Insurers Dai-ichi Life Holdings and T&D Holdings were up more than 8 percent, and banks SMFG, Mizuho and Mitsubishi UFJ gained up to 5 percent.

In Shanghai, the main index was down 0.4 percent in the meantime, and the Hang Seng index in Hong Kong also fell 0.4 percent. The Kospi in Seoul added 2.5 percent, and the Australian All Ordinaries in Sydney gained 1.6 percent.

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