Japanese stocks welcomed the new Prime Minister in silence


On the day Mr. Suga was elected Prime Minister of Japan, the Nikkei 225 index closed up slightly to 23,475.53 points, while the Topix index edged up 0.21% and ended the day with 1,644.35 points.

The Nikkei 225 index closed up slightly to 23,475.53 points on September 16 trading day.  Photo: AFP
The Nikkei 225 increased slightly to 23,475.53 points on September 16 trading day. Photo: AFP

After being elected leader of the ruling Liberal Democratic Party, Mr. Yoshihide Suga on September 16 officially became the new Prime Minister of Japan. Speaking at his first press conference as Prime Minister on the same day, Suga identified the biggest challenge that Japan is facing is the spread of Covid-19, but in parallel it must be balanced. the fight against Covid-19 with economic recovery.

On September 16, the Japanese stock market recorded an increase but not significantly. The Nikkei 225 index closed with a slight increase to 23,475.53 points, while the Topix index edged up 0.21% and ended the day with 1,644.35 points.

The Japanese economy today received bad news when the country’s export turnover in August plunged 14.8% over the same period last year, but still lower than the 16.1% decline seen by economists. Previous forecast with Reuters.

Meanwhile, mainland China ‘s stock market on September 16 closed in the red. The Shanghai Composite Index fell 0.36% to 3,283.92 points while the Shenzhen Component slipped 1,006% deeper to 13,011.28 points. On the Hong Kong stock exchange, the Hang Seng index was less volatile at the end of the session.

The Korean market stayed in the green with the Kospi up 0.31% to close at 2,435.93, while in Australia the S & P / ASX 200 rose 1.04% and ended the day with 5,956. ,10 points. Overall, the MSCI Asia-Pacific (excluding Japan) rose 0.51%.

Shares of suppliers for Apple on September 16 fell into chaos after the “giant” US technology released many new products and services, including watches Apple Watch and iPad. In Japan, shares of supplier Murata Manufacturing slipped slightly, while shares Sharp lost 0.67 percent, while shares of LG Display South Korea fell 1.23 percent. In Taiwan, Foxconn shares fell 0.38%; In contrast, shares of semiconductor maker TSMC rose 2.92%.

Investors focused attention on the Federal Open Market Commission policy meeting of the US Federal Reserve (Fed) scheduled to end on September 16 (US time). Accordingly, the Federal Open Market Commission will announce the monetary policy together with quarterly assessment of US GDP, unemployment rate and inflation.

“Monetary policy that Fed announced on 16/9 maybe The most serious risk event this week as many investors are looking to evaluate the impact of the new policy on the US dollar, “said Kathy Lien, Chief Forex Strategy Officer At the BK Asset Management Asset Management Fund, commenting that the female expert said many forecasts were that the Fed would “not make any changes” in monetary policy and the main focus was on making forecasts. economy.

Before the Fed policy announcement, the US dollar index against other major currencies fell to 93,046, from 93,185. Japanese Yen strengthened and converted 105.39 JPY / USD against 106 JPY / USD set at the beginning of the week, while the Australian dollar slid to 1 AUD / 0.7312 USD from 1 AUD / 0.733 USD set on September 15.

Oil prices in Asian markets went up on September 16 trading day. Brent crude oil futures prices rose 1.9% to $ 41.30 / barrel, while the US crude futures prices rose sharply with 2.25% and reached $ 39.14 / barrel.

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