Tokyo Stock Exchange up again after several sessions in the red

  •   22/02/2021 - 12h55
  •   DEHOUI Lionel

The Tokyo Stock Exchange starts this new week on good notes. It finished this Monday's session in the green. This hadn't happened for three sessions in a row. Indeed, this fine performance recorded on the Tokyo market is helped by hopes of economic recovery through the vaccine campaigns against Covid-19.

--- Advertisement ---
Trade on the Nikkei 225!
76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Trade CFDs with Plus500
Tokyo Stock Exchange up again after several sessions in the red
Image copyright: Dick Thomas Johnson - Flickr

The Tokyo Stock Exchange ends this week's session in the green

After three consecutive sessions in the red, the Tokyo Stock Exchange is back in the black. Strong performances were reported for the various indices at the close of the session on Monday, February 22, 2021. The Nikkei index gained 0.46% to 30,156.03 points.

For its part, the expanded Topix index also made progress. It advanced 0.49% to 1.938,35 points. On the other hand, in Hong Kong, Monday's session was not very beneficial for the Hang Seng index, which found itself down in closing. The index fell by 0.28%.

The same was true of the Shanghai and Shenzhen composite indices. They were also in the red at the end of the session.

 

Factors that supported the Tokyo market

Several factors boosted the performance of the Tokyo Stock Exchange during the session at the beginning of the week. In the foreground was the situation of the coronavirus-related health crisis in Japan. Indeed, investors were supported by the hopes of a forthcoming lifting of the state of emergency that has been in place since the beginning of the year in part of the country, including the capital.

The chances of this action being carried out are very strong, since the number of new cases of contamination has been falling for some time. However, the local media announced on Monday the census of 178 new people infected with the disease in Tokyo.

It should be noted that this is the first time since the end of November that the number of daily cases of contamination falls below the 200 threshold. In addition, another factor that has boosted the Japanese market is the announcement made last Friday by the G7 leaders on their ambition to support collectively and in a reinforced way, the anti-Covid vaccination in the world.

Also, investors are turning their interest to the upcoming statements expected from the Chairman of the U.S. Federal Reserve. This should take place next Tuesday and Wednesday.

 

About Stocks, Currencies and Oil

At the beginning of the week, the Tokyo market was also driven by the performance of various stocks. Japan's Fujifilm recorded a loss of 0.07% to 6,333 yen. The group plans to re-launch clinical trials of its drug Avigan in April for the treatment of coronavirus patients. As a reminder, this drug solution is already approved in Japan for the relief of severe forms of influenza.

In addition, on the value side, the Dollar was equivalent to 105.69 yen (around 7:00 GMT) versus 105.45 yen Friday (at 21:00 GMT). For its part, the EUR was at 128.05 Yen from 127.80 Yen last weekend.

On the Oil market, a clear rise is to be reported at the end of Monday's session. Thus, the price of a barrel of WTI rose 1.22% to $59.96 (around 6:40 GMT). For its part, the cost of a barrel of North Sea Brent rose 1.32% to $63.64.