CM – Nikkei offsets early losses as travel-related stocks rebound

0

TOKYO, Oct. 29 / PRNewswire / – Japanese stocks rose Monday as travel-related stocks bounced back on losses on coronavirus containment fears and post ANA

9202.T

forecast less than expected full year loss.

The Nikkei stock average

.N225

rose 0.24% to 29,089.48, recovering from previous losses of 0.43%. The wider Topix

.TOPX

rose 0.11% to 1,917.00.

Travel-related stocks led gains after falling sharply in recent weeks as investors closed their short positions in anticipation of social restrictions to mark the fourth wave of COVID-19 – Contain infections.

Japan on Friday declared a « short and powerful » state of emergency for Tokyo, Osaka and two other prefectures, according to which restaurants, bars and karaoke salons serving alcohol must be closed and major sporting events without Spectators must take place. Coronavirus-hit sectors are being bought back amid hopes that coronavirus infections will decline after the government declared an emergency, « said Takashi Hiroki, chief strategist at Monex Securities.

ANA Holdings

9202.T

rose 5.4% after the airline announced that the full year operating loss would be lower than previously forecast. Business rose with Central Japan Railway

9022.T

, West Japan Railway

9021.T

and East Japan Railway

9020.T

plus 3.9%, 3.4% and 2.7% respectively.

« Since the market is underperforming globally in part due to the increase in local infections, the market could be relieved if the new restrictions restrict infections even if it slows economic growth somewhat, « said John Vail, chief strategist at Nikko Asset Management.

On the other hand, M3

2413.T

declined by up to 7.2% after the operator of the platform for medical portals announced positive quarterly results, but declined to provide an annual forecast for the current year.

M3 followed a pattern that in the last few sessions has been observed as the leading growth shares of the market like Yaskawa Electric

6506.T.

and Nidec

6594.T

fell despite fairly positive gains.

We encourage you to use comments to connect with users, share your perspective, and ask questions to authors and each other. However, in order to maintain the high level of discourse that we all appreciate and expect, please note the following criteria:

Offenders of spam or abuse will be deleted from the website and, at Investing.com’s discretion, excluded from future registration.

Drop here or a picture
Upload from your computer
Supported formats: * .jpg, * .png, * .gif up to 5 MB

Disclosure of Risks: Fusion Media assumes no liability for any loss or damage arising from reliance on the information contained on this website, including data, quotes, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible. Margin Forex trading carries a high level of risk and is not suitable for all investors. Trading or investing in cryptocurrencies carries potential risks. Cryptocurrency prices are extremely volatile and can be influenced by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before deciding to trade forex or other financial instruments or cryptocurrencies, you should carefully weigh your investment goals, experience, and risk appetite. Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) as well as forex and cryptocurrency prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data. Fusion Media may be compensated by the advertisers who appear on the site based on your interaction with the advertisements or advertisers

Ref: https://in.investing.com

Donnez votre avis et abonnez-vous pour plus d’infos

Vidéo du jour: