Real Estate Companies and Tech Sector Put Nikkei on A Profit

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The Tokyo stock exchange closed with an apparent gain on Tuesday. In particular, the technology companies did well thanks to a new closing record of the American tech indicator Nasdaq.

 

Real estate companies also continued to progress on optimism about the reopening of the economy thanks to accelerating the vaccination program in Japan. They also looked forward to the two-day interest rate meeting of the US Federal Reserve, which starts later in the day.

The leading Nikkei in Tokyo eventually closed 1 percent in the plus at 29,441.30 points. The real estate companies Sumitomo Realty & Development and Mitsubishi Estate increased to more than 3 percent. Technology companies such as Olympus and Fanuc gained up to 1 percent. Mitsui High-tec continued the advance, climbing nearly 7 percent. The Japanese electronic parts maker gained 16 percent a day earlier thanks to stronger than expected results. On the other hand, park 24 plummeted 12 percent after a profit alarm from the parking provider.

After the long weekend, investors in Shanghai and Hong Kong reacted to the statement by the G7 countries, which lashed out at China. The seven major industrialized countries and the European Union called on Beijing to respect the human rights of minorities in China’s Xinjiang province and of pro-democracy protesters in Hong Kong.

The Hang Seng index in Hong Kong and the main index in Shanghai fell around 0.7 percent. The mood was also weighed down by concerns about strict corona measures in southern Chinese container ports due to a contamination outbreak in the region. The situation is causing serious disruption to shipping.

The All Ordinaries in Sydney were up 0.9 percent after the long weekend in Australia. The minutes of the latest interest rate meeting of the Australian central bank showed that policymakers think it is still too early to phase out stimulus measures such as bond purchases.

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