Nikkei Slightly Higher After the Fall in Japanese Exports

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The Japanese stock market closed slightly higher on Wednesday. Investors took to the higher closing stocks on Wall Street, where the mood was buoyed by hopes for a soon deal on additional corona support for the US economy.

 

An unexpected drop in Japanese exports, however, limited exchange gains. Also, the interest rate decision of the US central bank, which will be announced later today, was also looked forward to.

The Nikkei in Tokyo finished 0.3 percent in the plus at 26,757.40 points. On a macroeconomic level, it appeared that exports in Japan fell by 4.2 percent in November compared to a year ago. Economists had expected a slight increase in exports.

Apple’s suppliers were in demand after reports that the American technology group will increase the production of its iPhones to meet strong demand. Alps Alpine rose 7.4 percent, and TDK climbed 2.3 percent.

The other major stock exchanges in the Asian region also gained ground. The main index in Shanghai was 0.2 percent higher in the meantime, and the Hang Seng index in Hong Kong rose 0.9 percent.

SMIC fell more than 5 percent in Hong Kong. The Chinese chipmaker announced that it was aware of the intentions of one of the company’s top executives to leave.

Also, index compiler MSCI announced that Hong Kong-listed SMIC shares would be removed from its global market indices. The Kospi in Seoul climbed 0.5 percent, and the Australian All Ordinaries in Sydney gained 0.7 percent.

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