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Nikkei Climbs After Positive Chinese Trade Data

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The stock market in Tokyo continued to improve on Tuesday after the solid profit the day before. In addition, better-than-expected trade figures from China fueled optimism about the global economic recovery from the corona crisis.

 

Investors also took to the new record highs on Wall Street, where sentiment was bolstered by hopes for strong corporate results. In the United States, the banks Goldman Sachs and JPMorgan Chase will give the go-ahead for the earnings season later in the day.

The main index in Tokyo, the Nikkei 225, rose 0.5 percent for the day at 28,718.24 points. A day earlier, the indicator already gained more than 2 percent. Especially companies that are sensitive to economic developments, such as container transporters, insurers and securities houses, were put higher.

Tama Home gained 17 percent thanks to better-than-expected results from the Japanese homebuilder. Kakuyasu fell 3 percent. The spirits seller dropped its profit target for the current fiscal year amid uncertainty surrounding the renewed ban on the sale of alcohol in Japanese restaurants.

The stock market in Shanghai was 0.3 percent in the plus, and the Hang Seng index in Hong Kong rose 1.6 percent. Chinese customs figures showed that the country’s exports rose by more than 32 percent year-on-year in June. That was much stronger than expected. Imports were also higher than expected, with a growth of 36.7 percent.

The easing of the corona measures in the United States and Europe, among others, created strong demand for Chinese goods.

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