The leading stock market indicators in the Asian region started gains on Monday in the last week of January. The technology companies, in particular, were popular, following the price gains among American peers.
Hopes that the sizeable $ 1.9 trillion corona support package for the US economy will be approved soon continued to fuel optimism on stock exchange floors.
The mounting political tensions between the United States and China over Taiwan had little impact on trade. The government of Taiwan again reported on Sunday about Chinese military display of force in its airspace. C
hina does not recognize Taiwan’s sovereignty and sees the island as its own dissident province. The US called on Beijing to end military, diplomatic and economic pressures on Taiwan. The main index in Shanghai gained 0.5 percent and the stock market in Taiwan fell 0.5 percent.
In Tokyo, the leading Nikkei closed 0.7 percent higher at 28,822.29 points. The Japanese technology group Toshiba made a price jump of more than 16 percent.
The Japanese stock market operator Tokyo Stock Exchange has approved Toshiba’s return to the main class of the stock exchange. Due to hefty write-downs on its US nuclear power activities, the company was downgraded to the so-called second section of the stock exchange in 2017.