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The leading indexes of the Japanese stock market rose on Friday, July 13, 2018 as investors continued to buy value following Wall Street gains and the depreciation of the yen at 112.00, the lowest since six month, relative to the dollar. The absence of escalating trade tensions between the US and China has also boosted investor confidence. Of the TSE33 issues, 31 showed a downward trend, with shares in Services, Textiles & Apparel, Precision Instruments, Glass & Ceramics, Household Appliances, Nonferrous Metals, Chemicals and Information & Communication. Towards the end of the afternoon, the Nikkei 225 benchmark slipped 2.1% or 454.63 points to 22,642.59. The broader Topix index of all issues of the first section on the Tokyo Stock Exchange, meanwhile, rose 1.14%, or 19.44 points, to 1729.12.
The shares of export-related players rose, thanks to the depreciation of the yen against the greenback.
A weaker yen tends to help Japanese exporters realize their profits abroad when they are repatriated. Advantest Corp and TDK Corp were up about 1% -2%.
Fast Retailing shares surged after the Uniqlo clothing store operator announced a 37% increase in its third-quarter operating profit to a record 68.4 billion yen thanks to the good sales of its Uniqlo stores.
NEWS FROM THE CURRENCY: The Japanese yen depreciated against the US dollar in Tokyo on Friday. The dollar appreciated against the yen to trade at 112.64, hitting an overnight high of six months earlier.
OFFSHORE MARKET: The US stock market rebounded to close higher on Thursday, in part because of optimism about the upcoming profit season. The easing of commercial concerns has also contributed to the recovery. The Nasdaq jumped 224.74 points or 0.9% to 24,924.89 points and the S & P 500 jumped 24.27 points or 0.9% to 2,798.29 points.
The main European markets also came back up on Thursday. The French CAC 40 index jumped 1%, the FTSE 100 index of U.K rose 0.8% and the German DAX index of 0.6%.
Generated by Capital Market – Live News
(This story was not modified by Standard Business personnel and is generated automatically from. a syndicated thread.)
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