The good mood in the USA is also spilling over to Asia.
(Photo: dpa)
Tokyo The Tokyo stock exchange initially rose on Thursday. It followed the guidelines from the USA, where the monetary policy decisions of the US Federal Reserve had led to new records. The Fed wants to start curbing bond purchases as early as this month – but interest rates are not to be increased for the time being.
This spread a feeling of security when buying US stocks, said the Japanese business newspaper Nikkei. This was the second positive news for investors after the government coalition’s surprisingly clear victory in the general election on Sunday.
Shares traditionally do well after the Liberal Democratic Party alone has an absolute majority, judged JP Morgan strategists. Because this signals a stable government – and in this case the prospect of a major economic program and a continuation of the central bank’s ultra-loose monetary policy.
On Thursday, shares in companies that manufacture products for the semiconductor and electronics industries were particularly bought in Japan. However, many investors would take a wait-and-see attitude before the half-year reports from Toyota and several major shipping companies, said the Nikkei.
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The Nikkei Index, which comprises 225 values, was 0.8 percent higher at 29,762 points. The broader Topix index rose 0.9 percent to stand at 2049 points. The Shanghai stock exchange was up 0.5 percent. The index of the most important companies in Shanghai and Shenzen gained 0.7 percent.
In Asian foreign exchange trading, the dollar gained 0.2 percent to 114.18 yen and was down 0.2 percent to 6.3960 yuan. In relation to the Swiss currency, it was quoted hardly changed at 0.9120 francs. At the same time, the euro fell 0.1 percent to 1.1602 dollars and was barely changed at 1.0583 francs. The pound sterling lost 0.1 percent to $ 1.3672.
More: The US Federal Reserve is already curbing its bond purchases this month