Fri, February 23, 2024

Nikkei 225 Demonstrated its Strength on Wednesday

Japan To Increase Budget By $21 B To Deal With Rising Living Costs

There is no lack of factors that have the potential to affect stocks one way or another. For example, stocks in Asia-Pacific were mixed on Wednesday as investors analyzed the state of the world’s second-largest economy. The Nikkei 225 demonstrated its strength on Wednesday. 

Mainland Chinese stocks declined on Wednesday. The Shanghai composite dropped 0.82% to close at 3,186.02. In the meantime, the Shenzhen component declined 1.601% to end its trading day at 11,568.17. In Hong Kong, the Hang Seng index added about 0.1%, as of its final hour of trading. 

Data released on Wednesday showed Chinese exports rising more than anticipated in March. Its dollar-denominated exports jumped 14.7% year-on-year in March, based on the information provided by officials. Chinese imports, on the contrary, saw a 0.1% year-on-year decrease in the first month of spring. 

Investors and analysts continue to monitor the situation regarding the Covid-19 pandemic in mainland China. Authorities in Shanghai and elsewhere are trying to stabilize the situation. However, it is not an easy task to eradicate the virus in China. The country’s government is not willing to abandon its zero-Covid policy in spite of all challenges. 

Nikkei 225 and Topix 

As stated earlier, the Nikkei 225 rose on Wednesday. It jumped 1.93% on the day to 26,843.49. Apart from the Nikkei 225, the Topix index also rose on Wednesday. The index advanced 1.42% to end its trading day at 1,890.06.

South Korea’s Kospi gained 1.86% to close at 2,716.49. Australia’s S&P/ASX 200 advanced 0.34% to 7,479. 

Last but not least, stocks rose in the U.S. They rose on Wednesday as the corporate earnings season kicked off with mostly positive results, and traders looked past surging inflation numbers.

The Dow Jones Industrial Average gained 92 points or 0.3%. The S&P 500 added 0.3% and the Nasdaq Composite advanced 0.5%. 

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