The Nikkei average rose in Tuesdays trading session following the Chinese presidents speech
2018-04-10 06:22 am | Resource: NEWS | No Views : 173
Japan’s Nikkei share average surged in late morning trade on Tuesday, as automakers rose after Chinese President Xi Jinping promised to lower import tariffs on products including cars this year.
The comments come amid rising trade tensions between China and the United States following a week of escalating tariff threats sparked by U.S. frustration with China’s trade and intellectual property policies. The growing rift between the world’s two largest economiest is worrying financial markets over potential damage to global growth.
At the midday break, the Nikkei rose 1.1 percent to 21,913.06, after trading in negative territory earlier.
Xi also said China would raise the foreign ownership limit in the automobile sector “as soon as possible” and push previously announced measures to open the financial sector.
“He spoke in more details than the market had expected,” said Nobuhiko Kuramochi, a strategist at Mizuho Securities. “The market was focused on mention about some sectors including auto and finance, and he seems to have delivered enough details to satisfy investors.”
The transport equipment sector gained 1.5 percent and was the third-biggest gainer on the board, with Toyota Motor Corp surging 1.9 percent, Honda Motor Co jumping 2.1 percent and Mazda Motor Corp gaining 1.0 percent.
Companies with large exposure to China also staged a rally.
Industrial robot maker Fanuc Corp soared 3.1 percent, machine tool maker Okuma gained 2.5 percent and construction machinery maker Komatsu advanced 2.9 percent.
The broader Topix gained 0.9 percent to 1,740.78
Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term The purchasing power managed to control the movement of the NASDAQ 100 index to reach the level of 7595 as it faced selling pressures and resistance to push it back to the level of 7516 trying to consolidate the top of the ascending trend line sub In view of the technical…
- DOW JONES Technical analysis 24 September 2018 10:26 pm2018-09-23
- NASDAQ Technical Analysis 21 September 2018 11:15 pm2018-09-20
- DOW JONES Technical analysis 21 September 2018 11:13 pm2018-09-20
- NASDAQ Technical Analysis 20 September 2018 11:15 pm2018-09-19
- DOW JONES Technical analysis 20 September 2018 11:13 pm2018-09-19
- NASDAQ Technical Analysis 19 September 2018 11:25 pm2018-09-18
- DOW JONES Technical analysis 19 September 2018 11:23 pm2018-09-18
- NASDAQ Technical Analysis 18 September 2018 11:40 pm2018-09-17
- DOW JONES Technical analysis 18 September 2018 11:38 pm2018-09-17
Best trading brokers
- Dogecoin .. Electronic currency arose as a result of irony 03:54 pm 2018-01-26
- Currency and commodity analysis for 2018 05:14 pm 2018-01-01
- Bitcoin forces Santa Claus to distribute the worst gifts to its investors on Christmas 10:04 am 2017-12-25
- Forex 09:26 am 2017-12-25
- OmiseGo .. Time for electronic financial exchanges 02:07 pm 2017-11-15