Nikkei closed higher on restriction postponement

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The stock market in Japan closed higher again on Tuesday. Investors processed the decision of the United States to postpone part of the announced restrictions on trading with Chinese tech giant Huawei by ninety days. In addition, stock market trading continued to benefit from the hope of more central bank stimulus measures.

The Nikkei in Tokyo went out with a gain of 0.6 percent on 20,677.22 points. Apple’s Japanese suppliers were in demand after a substantial price gain from the American technology group. TDK. Foster Electric and Taiyo Yuden increased to 1.6 percent. The makers of chip equipment Screen Holdings and Tokyo Electron rose 5.4 percent and 1.4 percent following the price gains of American industry peers.

The stock market in Shanghai ended flat and the Hang Seng index in Hong Kong won 0.1 percent. The Chinese central bank launched the previously announced new interest rate policy that should result in lower borrowing costs for companies. In Seoul, the Kospi increased 1.2 percent. The All Ordinaries in Sydney rose 1.1 percent. The meeting minutes of the Reserve Bank of Australia showed that the central bank is considering reducing interest rates further, following interest rate steps in June and July.


By: Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]

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