Nikkei climbs higher after waiting session

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The stock market in Japan ended just a little higher on Thursday. Investors processed the minutes of the US Federal Reserve, which showed that the central bank is likely to further lower interest rates in September. They also looked forward to the meeting of central bankers in Jackson Hole, which starts later in the day.

The leading Nikkei in Tokyo closed 0.1 percent in the plus at 20,628.01 points. At the macroeconomic level, it was announced that Japanese industry activity shrank for the fourth month in a row in August. Cosmetics vendors and other retailers that are popular among tourists benefited from an increase in the number of foreign visitors to Japan in July. Cosmetic companies such as Shiseido and Fancl won 5.6 percent and 2.7 percent. Retailer Matsumotokiyoshi climbed 1.1 percent.

The Chinese stock markets took a step back. The stock market gauge in Shanghai was 0.2 percent lower in the meantime and the Hang Seng index in Hong Kong fell 0.9 percent. In Seoul, the Kospi lost 0.5 percent. The All Ordinaries in Sydney climbed 0.4 percent under the leadership of Australian oil producers. Qantas rose 0.7 percent after the results were published. The Australian airline saw a decline in earnings in the past financial year and announced a share buyback program.


By: Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is [email protected]

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