The Tokyo Stock Exchange is cautious this Tuesday, before the publication of the American inflation.
In Tokyo, caution was the order of the day after Monday’s rebound. The Nikkei index gained barely 0.25% to 28,614.63 points at the close, and the broader Topix index took 0.32% to 1,986.57 points. Gains were equally modest on the Hong Kong Stock Exchange: +0.2%.
According to the Fed, consumer inflation expectations fell in August, which supported the Tokyo market, said Masahiro Ichikawa, a strategist at Sumitomo Mitsui DS Asset Management, cited by Bloomberg.
“Technology stocks such as those related to the semiconductor industry have been valued and this has pulled the overall market up,” said Okasan Online Securities in a note. Investors were encouraged by the renewed weakness of the yen. The government’s intention to reopen the country to foreign tourists in October had a similar effect on tourism stocks.
For its part, Nintendo’s shares soared by 5.51% to 62,210 yen. The video game pioneer announced on Monday an excellent start in Japan of its new game “Splatoon 3“, of which 3.45 million units have been sold since last Friday in the archipelago.
The Western stock exchanges have themselves rebounded yesterday, in the wake of Tokyo. They are hoping for a further slowdown in the increase in consumer prices (CPI) in the United States, whose figure will be known later today.
The markets are hoping that the deceleration of U.S. inflation will be confirmed over time, which would allow the U.S. Federal Reserve (Fed) to ease its monetary policy again.
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Featured photo : © Tokyo stock market