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Japanese stock markets are soaring, Chinese ones are in the red
The yen reaches its lowest level since 1990 - Japanese stock exchanges benefit from the currency weakness. However, Chinese markets are in the red. Nikkei index closes 0.9 percent higher. Interesting developments in the Asian economy. #Yen #Nikkei #Stock Exchange
Japanese stock markets are soaring, Chinese ones are in the red
The yen fell to its lowest level since 1990, reflected in the positive performance of Japanese stocks. Deutsche Bank financial experts attributed the rise in the Tokyo market to the weakness of the yen, which temporarily hit a 34-year low. This decline results from statements by Naoki Tamura, a member of the Bank of Japan, who called for a cautious approach to normalizing monetary policy. The weak local currency benefits Japan's export-oriented economy, which was reflected in a 0.9 percent higher Nikkei-225 index at 40,762.73 points.
In contrast, the Chinese stock exchanges recorded negative developments. The Hang Seng Index in Hong Kong fell 1.26 percent to 16,408.36 points. Technology stocks came under pressure due to losses in Nvidia shares. Investors were disappointed by Alibaba's decision to delay the IPO of its logistics division, and BYD's results last year disappointed expectations. The CSI 300 index with important Chinese mainland stocks fell by 1.16 percent to 3,502.79 points. In Australia, however, the S&P/ASX 200 index rose 0.51 percent to 7819.61 points as the rise in inflation in February was slightly smaller than expected.