The Nikkei 225 index has recorded a 0.16% increase which is an increase of 46.78 Japanese Yen. It is currently trading at 28,364.39 Japanese Yen.
Upsurge in Stocks and Commodities
The Japanese benchmark index, Nikkei 225, has reacted to the rise in oil prices. Global oil prices have jumped 1% higher after tumbling in Singapore last week. Oil is trading at $64 per barrel in the US as Brent Crude Oil futures indicate a 0.5% increase to $66.7 for a barrel. This is a clear indicator that the United States is trying to recover from the Corona virus pandemic.
Asia-Pacific markets are in a mixed trade with markets in Japan, Singapore, Malaysia, and Indonesia. The Japanese Index, Nikkei 225, was up 0.4% as the Topix index recorded a 0.54% increase. The Malaysian Benchmark index recorded a 0.52% increase while Straits Time Index in Singapore gained 0.2%. This was a major gain for the Japanese index.
Bitcoin advanced above $35,000 after taking a nosedive in the past few days. Bitcoin had started declining after the global Corona virus pandemic. However, the US is in its economic recovery which has provided a ray of hope for investors. After an interview, JoAnne Feeney, a partner at Advisors Capital Management LLC, said:
“It’s going to be a very mixed market over the next several months until we get more information on what’s really going to happen with inflation and how the stimulus in the U.S. affects spending there.”
Top Movers in Japan
One of the best performers in Japan is Kawasaki Kisen Kaisha which is a cargo tracking company. It recorded a 214 JPY increase which is nearly 7.64% rise in its prices. Other top performers include Nippon Yusen K.K., Shinsei Bank, Mitsui O.S.K Lines Ltd, among others.
Some companies that still lag are: Pacific metals, Marui Group, Softbank Group Corp, among others.