Tokyo shares closed higher on Tuesday as Japan’s second-largest Topix index hit its highest level in more than 15 months, stock data showed on March 7.
The rise, according to analysts, was driven by rising hopes that the Chinese economy is on track to recover from the coronavirus lockdown.
The Topix Index rose to 2046.11 points, the highest level since November 2021, 8.49 points or 0.42% higher than Monday.
Japan’s base Nikkei 225 trade-based index rose 71.38 points, or 0.25%, to 28,309.16. At the same time, during the trading session, the indicator also showed higher values, reaching a three-month intraday high of 28,398.27.
In the Prime section of the stock exchange, the shares of companies involved in ferrous metallurgy were in the lead. It was followed by the mining industry and the non-ferrous metals sector.
Growth leaders: Kobe Steel (+5.81%), Teijin (+3.52%) and Inpex Corp (+3.01%).
Autumn leaders: Nisshin Seifun Group (-2.23%), Yamato Holdings (-1.90%) and Nippon Paper Industries (-1.60%).
The first place at the top of the most traded shares in Japan during the 20th trading day is held by the shares of the country’s largest financial group, Mitsubishi UFJ Financial (73.01 million). Second place was held by shares of automaker Nissan Motor Corporation (26.56 million), marking its 13th consecutive day in this top. The metallurgical company Kobe Steel (25.06M) rose to third place, becoming the growth leader today (+5.81%). On the fourth line, the shares of the Japanese automobile giant Toyota Motor (20.84 million), remaining among the top ten trading sessions. Completing the top five of today’s trades were the shares of Japan’s largest oil refiner, Eneos Holdings (17.54 million).
It should be noted that today all the shares of the five main activists were listed and are trading in the green zone for the third day. This is quite a rare occurrence for the Tokyo Stock Exchange.
The total volume of transactions in the shares of major companies increased today compared to Monday and amounted to 163.01 million.
Source: Rossa Primavera
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