The stock exchange in Japan ended on Friday with a profit. Strong price gains from heavyweights Fast Retailing and SoftBank helped the stock market in Tokyo advance. The American numerical season was also looked forward to, which will start later in the day with the results of the banks JPMorgan Chase and Wells Fargo.
The Nikkei in Tokyo went 0.7 percent higher the weekend at 21,870.56 points. Yaskawa Electric rose 0.1 percent after the publication of the annual results. The Japanese maker of industrial equipment expects the operating profit to fall in the current financial year. Technology group SoftBank covers almost 5 percent. Uber Technologies, the company behind the popular taxi app, has applied for a listing on the New York Stock Exchange. SoftBank is the largest investor in Uber, potentially worth $ 100 billion.
Fast Retailing made a price jump of almost 8 percent. The owner of the Uniqlo clothing chain lowered its profit forecast for the entire financial year due to the unusually warm weather. But the result will nevertheless reach a record level due to strong sales in China.
The Chinese exchanges took a step back in anticipation of trade data from China. The main degree meter in Shanghai was 0.5 percent lower in the meantime and the Hang Seng index in Hong Kong lost 0.4 percent. The Kospi in Seoul climbed 0.3 percent and the All Ordinaries in Sydney gained 0.8 percent.
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 oliver.kjeldsen@economicinform.com
