Tokyo Stock Exchange starts the week with optimism
The Tokyo Stock Exchange index rose Monday morning, June 27, reassured like Wall Street on Friday June 24 by the prospect of a possible deceleration of inflation in the United States.
The Nikkei gained 0.96% to 26,747.43 points around 00:45 GMT and the broad index Topix was up 0.82% to 1,882.03 points.
As for the NYSE, in New York, it rose late last week after the release of a slightly lower-than-expected indicator of medium-to-long-term inflation in the United States and optimistic statements on the economy by a U.S. Federal Reserve official.
Nipponese multinational brewer Sapporo Holdings saw its share price rise by 2.3% to 3,015 yen, after announcing on Friday June 24 its intention to acquire American craft brewer Stone Brewing for USD 168 million.
The acquisition will allow Sapporo to use Stone’s facilities to produce its own beer, thus reducing the logistical costs of exporting to the US market.
On the other hand, oil was down Monday morning June 27 in Asia: around 00:35 GMT the U.S. barrel of WTI dropped 1.56% to 105.94 USD and the barrel of Brent North Sea lost 1.37% to 111.57 USD.
The Japanese currency, the yen was regaining ground against the dollar, at a rate of one dollar for 134.77 yen around 00:45 GMT against 135.23 yen Friday, June 24 at 21:00 GMT.
The Japanese currency was also up against the EUR, with one euro worth 142.32 yen from 142.71 yen late last week.
The European currency traded for 1.0558 USD from 1.0553 USD on Friday, June 24.