World News – UK – Nikkei hits nearly 30-year highs on recovery hopes and gains in heavy machinery stocks

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Japanese stocks rose Thursday to hit nearly three decades high as vaccine rollouts raised hopes of an economic recovery, Covid-19 pandemic and heavy machinery stocks rose on policy shifts towards more environmentally friendly energy.

Japan’s Nikkei stock average rose 0. 54% until 26. 668. 35 and is approaching Monday’s 26th high. 905, the highest level since early 1991. The wider Topix won 0. 51% until 1. 774. 27.

The rollout of Covid-19 vaccines raises hopes that the economic recovery may pick up pace next year despite headwinds from a recently identified more infectious strain and a delay from U.. S.. . Pandemic Aid Package.

The Nikkei should initially be between 26. 000 and 27. 000 will be stable, said Yutaka Miura, senior technical strategist at Mizuho Securities.

« But if the dollar falls well below 103 yen, we could see Japanese stocks being sold, » he added.

Aeon rose 3. 5% to a record high after the retailer revised up its earnings outlook for the year through February as consumer confidence rebounded after a coronavirus slump.

Heavy machinery manufacturers won after the Nikkei newspaper reported that Japan’s new zero-emissions strategy would target a massive increase in offshore wind power.

On the other hand, Hino Motors fell at 12. 4% after the truck maker announced it would stop production at two factories in North America by next September due to problems in U.. S.. . Test procedure for engine certification.

SoftBank Group has deleted 1. 7% after China opened an investigation into Alibaba Group for alleged monopoly behavior and invited its Ant Group to meet in the coming days.

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Stock, Brexit, Tokyo, Nikkei 225, European Union

World News – UK – Nikkei hits nearly 30-year high on recovery hopes and gains in heavy machinery stocks
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Ref: https://www.deccanherald.com

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