The Nikkei above 30,000 points for the first time since 1990

  •   16/02/2021 - 13h21
  •   DEHOUI Lionel

Since August 2, 1990, the Tokyo Stock Exchange's flagship index has not been able to exceed 30,000 points. But this Monday, the Nikkei precisely obtained 30,084.15 points, i.e. a growth of +1.91%. However, this record is far from the 38,915 recorded at the end of 1989. On the other hand, the Topix index rose to 1,953.94 points, or 1.04%.

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The Nikkei above 30,000 points for the first time since 1990
Image copyright: Dick Thomas Johnson - Flickr

The impact of the American recovery plan

Financial markets have high hopes for the stimulus package envisioned by U.S. President Joe Biden. It is a plan that is intended to provide a boost to American households and businesses that have been affected by the crisis. Toshikazu Horiuchi of IwaiCosmo told AFP that the Tokyo Stock Exchange is also supported by hopes of a resumption of economic activity in Japan.

It should also be noted that since last spring, the financial market has been taking advantage of the very attractive monetary policies of the central banks, as well as those of the Bank of Japan. In addition, the financial support measures taken by governments in response to the health crisis are also proving to be of great help.

In addition, Japan's GDP has performed slightly better than expected in the fourth quarter of 2020. During this quarter, it would have recorded a growth of 3% according to the first figures released on Monday. In general, the Japanese economy fell by 4.8% over the year due to the coronavirus pandemic.

In addition, it should be remembered that the Chinese stock exchanges were not operational on Monday, due to the Lunar New Year holidays.

 

On the securities side

Nissan's stock fell 2.83% on Monday to 609.9 yen. This result was recorded after Nissan announced to the public that it was not in discussion with Apple. After denying any plans to build an electric vehicle with the big Apple, Nissan's stock fell sharply, disappointing investors.

As for Panasonic, it made +1.8% profit at 1,498 yen. Indeed, the group plans to design a new battery for Tesla. As for the Japanese group Rakuten, it fell by 6.48% to 1,110 yen. Moreover, this Friday, it already announced its negative results for the fourth quarter. Results that affected its entire 2020 annual plan. The stock was particularly struck by the large investments made for the development of its mobile business.

 

On the side of currencies and oil

The Yen declined against the Dollar yesterday. The Dollar was 105.10 Yen at around 7:10 GMT, down from 104.94 Yen on Friday at 21:00 GMT. As for the European currency, the EUR was at 127.55 Yen from 127.19 Yen at the end of last week. On February 15, the EUR traded at $1.2136, up from $1.2120 on Friday at 21:00 GMT.

Oil also saw a rebound. Indeed, WTI's U.S. barrel price rose 2.17% to $60.76 at around 7:00 GMT. Similarly, a barrel of North Sea Brent crude rose by 1.71% to $63.50.