The Tokyo Stock Exchange closed on Monday positive, pleased with the latest US employment data, and the Hong Kong Stock Exchange continued its strong recovery despite Beijing’s denial of an imminent curtailment of its zero Covid policy.
The flagship Nikkei Index in Tokyo gained 1.21% to 27,527.64 points and the broader Topix index gained 0.98% to 1,934.09 points.
Unemployment rose slightly in the US in October, beyond expectations, and wage growth slowed, official data showed on Friday.
These elements indicate a deceleration of the American economy and therefore of inflation, which reinforces the scenario of a soft landing hoped for by the US Federal Reserve (Fed), and therefore of a possible slowdown in the pace of its monetary tightening in the future.
In Hong Kong, the Hang Seng index remained very dynamic (+ 2.88% around 06:10 GMT), although Beijing firmly denied speculation this weekend about a possible curtailment of its zero Covid strategy, even though this weakens the national economy.
On the side of values
NISSAN: While speculation rages on talks on the future of the Renault-Nissan alliance, which are slow to conclude, the general manager of Nissan (+ 0.49% to 488.5 yen) assured Friday that those were not at a standstill . “These are not easy discussions, but we will get there,” Makoto Uchida said in an interview with several Parisian media.
Renault is due to unveil its plan to split its thermal and electrical assets on Tuesday on “Capital Market Day”. Nissan is expected to invest in Renault’s future electric entity Ampère, and Renault will eventually reduce its stake in its Japanese partner to 15% from the current 43%.
On the side of currencies and oil
The dollar rose against the yen at the one dollar rate of 147.12 yen around 06:15 GMT versus 146.62 yen on Friday at 21:00 GMT.
The European currency also appreciated against the Japanese currency, a euro trading at 146.33 yen versus 145.98 yen at the end of last week.
The euro fell to $ 0.9945 versus $ 0.9956 on Friday at 21:00 GMT.
The oil market is in sharp decline, disappointed by the distant prospect of an easing of health restrictions in China, which weighing on the national economy also weighs on the country’s demand for black gold.
Around 06:10 GMT the US WTI barrel lost 1.12% to $ 91.57 and the North Sea Brent barrel fell 0.91% to $ 97.67.
etb / mac / nth