Nikkei Jumps 1.1% After Greenland Tensions Ease
Japanese stocks rose in today's trading, helped by easing tensions between the US and Europe over the Greenland issue. Market sentiment improved as market participants assessed reduced geopolitical risks, leading to a resurgence in appetite for riskier assets.
The Nikkei Stock Average rose 1.1% to 53,350.93. This gain was led by chip and banking stocks, two sectors most sensitive to improving global sentiment.
In the technology sector, Tokyo Electron rose around 2.9%, while in the financial sector, Mizuho Financial Group gained around 2.6%. The gains in these two sectors significantly boosted the Nikkei due to their significant weighting in the index.
Currency-wise, USD/JPY was at around 158.43, slightly higher than 158.15 at the Tokyo Stock Exchange's close on Wednesday. The yen's movement is being closely monitored as it could impact Japanese exporter shares.
Market participants are also awaiting comments from business and government leaders at the World Economic Forum (Davos), which could shift global sentiment. Domestically, the political situation ahead of the elections in early February is also drawing attention, as it could potentially impact economic policy and the bond market. (asd)
Source: Newsmaker.id
