Tokyo stocks closed higher on Tuesday after a long weekend, buoyed by the slowdown in US wage growth announced late last week, which eased fears of a prolonged monetary tightening in the US.
The flagship Nikkei index rose for the third consecutive session, gaining 0.78% to 26,175.56 points, while the broader Topix index rose 0.27% to 1,880.88 points.
In Hong Kong, the Hang Seng Index fell slightly (-0.4% around 07:00 GMT) as investors adjusted their positions following strong stock market gains so far this year.
On the side of values
EISAI: Shares of the Japanese pharmaceutical group soared 4.83% to 8,541 yen on Friday’s announcement of the US Medicines Agency’s (FDA) approval of its new anti-Alzheimer’s drug lecanemab in the United States, where it will be marketed under the name Leqembi.
It is the second Alzheimer’s treatment recently approved by the FDA, following Aduhelm in June 2021, also co-developed by Eisai and the American Biogen. The two companies announced that they are also aiming for marketing authorization for lecanemab in Europe, Japan and China.
SOFTBANK GROUP: Japanese tech investment giant SoftBank Group rose 2.35% to 5,953 yen. British Prime Minister Rishi Sunak has relaunched London’s efforts to get British microprocessor designer Arm, a subsidiary of SBG, listed on the UK stock market, according to information from the Financial Times released on Monday.
Sunak reportedly met ARM chief executive Rene Haas in Downing Street last month, while SoftBank chief executive Masayoshi Son took part in the meeting via video, according to the FT.
On the side of currencies and oil
The dollar traded at 132.16 yen at around 07:10 GMT, versus 131.88 yen at 21:00 GMT on Monday.
The euro rose to 141.82 yen versus 141.52 yen the day before. One euro also traded for $1.0728 against $1.0730 on Monday at 21:00 GMT.
In the oil market, a barrel of US WTI fell 0.24% to $74.45 around 07:00 GMT and that of North Sea Brent lost 0.26% to 79.44 yen.
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