Synopsis
The Nikkei share average jumped 1.4 per cent to end at 28,860.62, its highest close since Nov. 25, though it met a resistance around 28,910, where it has its 50-day and 200-day moving averages.
APTOKYO: Japanese shares jumped on Wednesday, as investors grew hopeful that the Omicron coronavirus variant would be less disruptive for the global economy than initially feared.
The Nikkei share average jumped 1.4 per cent to end at 28,860.62, its highest close since Nov. 25, though it met a resistance around 28,910, where it has its 50-day and 200-day moving averages.
The broader Topix added 0.6 per cent to 2,002.24, while brighter sentiment saw the index of Mothers start-up market , battered in recent weeks along with their U.S. peers, jumping 2.18 per cent.
Preliminary evidence indicates that Omicron likely has a higher degree of transmissibility but is less severe, top U.S. infectious disease expert Anthony Fauci said on Tuesday.
Tech shares led the gains with semiconductor-related stocks jumping 2.6 per cent.
Renesas Electronics soared 6.1 per cent. Taiyo Yuden rallied 5.1 per cent while Tokyo Electron added 2.8 per cent and Lasertec went up 2.3 per cent.
Electronics maker Omron gained 3.6 per cent while game maker Nintendo added 3.5 per cent.
U.S. stocks gained on Tuesday despite a rise in short-term bond yields, signalling that stock markets potentially digested the initial shock from worries that the Federal Reserve may accelerate tapering in its bond buying.
But some market players remained cautious.
“Looking ahead to next year, the Fed’s tapering and rate hikes will remain a big theme and I don’t think the market is completely done with corrections related to that,” said Yuya Fukue, trader at Rheos Capital Works.
Interest rate-sensitive real estate companies fell, hit by a portfolio rebalancing related to an index adjustment, as well as a media report on the government’s plan to reduce tax deduction for housing loans.
Mitsui Fudosan fell 3.7 per cent while Sumitomo Realty and Development lost 3.2 per cent and Mitsubishi Estate shed 2.2 per cent to hit a one-year low.
The Topix real estate index fell 2.1 per cent to become the worst performer among Topix 33 industry subindexes.
(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
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SynopsisThe Nikkei share average jumped 1.4 per cent to end at 28,860.62, its highest close since Nov. 25, though it met a resistance around 28,910, where it has its 50-day and 200-day moving averages.APTOKYO: Japanese shares jumped on Wednesday, as investors grew hopeful that the Omicron coronavirus variant would be less disruptive for the global economy than initially feared. The Nikkei share average jumped 1.4 per cent to end at 28,860.62, its highest close since Nov. 25, though it met a resistance around 28,910, where it has its 50-day and 200-day moving averages. The broader Topix added 0.6 per cent to 2,002.24, while brighter sentiment saw the index of Mothers start-up market , battered in recent weeks along with their U.S. peers, jumping 2.18 per cent. Preliminary evidence indicates that Omicron likely has a higher degree of transmissibility but is less severe, top U.S. infectious disease expert Anthony Fauci said on Tuesday. Tech shares led the gains with semiconductor-related stocks jumping 2.6 per cent. Renesas Electronics soared 6.1 per cent. Taiyo Yuden rallied 5.1 per cent while Tokyo Electron added 2.8 per cent and Lasertec went up 2.3 per cent. Electronics maker Omron gained 3.6 per cent while game maker Nintendo added 3.5 per cent. U.S. stocks gained on Tuesday despite a rise in short-term bond yields, signalling that stock markets potentially digested the initial shock from worries that the Federal Reserve may accelerate tapering in its bond buying. But some market players remained cautious. “Looking ahead to next year, the Fed’s tapering and rate hikes will remain a big theme and I don’t think the market is completely done with corrections related to that,” said Yuya Fukue, trader at Rheos Capital Works. Interest rate-sensitive real estate companies fell, hit by a portfolio rebalancing related to an index adjustment, as well as a media report on the government’s plan to reduce tax deduction for housing loans. Mitsui Fudosan fell 3.7 per cent while Sumitomo Realty and Development lost 3.2 per cent and Mitsubishi Estate shed 2.2 per cent to hit a one-year low. The Topix real estate index fell 2.1 per cent to become the worst performer among Topix 33 industry subindexes. (What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.) Download The Economic Times News App to get Daily Market Updates & Live Business News.Pick the best stocks for yourself Powered by 3 mins read3 mins read2 mins read2 mins read3 mins read4 mins read3 mins read3 mins read