Nikkei Rises Sharply, What's the Good News from the US and Japan?
The Nikkei index rose 1.6% today to 48,332.87. This increase follows the strengthening of the US stock market late last week. Market sentiment improved after positive news emerged regarding US-China trade relations and the stability of regional banks in the US.
In Japan, the market also responded favorably to domestic political developments. Coalition negotiations between the Liberal Democratic Party (LDP) and the Japan Innovation Party are reportedly moving closer to an agreement. According to local media reports, a coalition agreement could be signed today before the parliamentary vote next Tuesday.
Several blue-chip stocks contributed to the index's rise. MonotaRO and Kokusai Electric both rose 4.5%, while Yaskawa Electric gained 4.1%. In the currency market, USD/JPY was at 150.84, slightly up from last week's 150.63. The market appears to be welcoming the combination of positive global and domestic news. (asd)
Source: Newsmaker.id