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he Nikkei opens up more than 10% This Tuesday, August 6, the company will be listed on the Tokyo Stock Exchange. On “Black Monday”, the main index plummeted by 12.40%which was the second worst drop in history.
In the first few hours of trading, the Nikkei The 225 most representative games on the market are groupedThe index rose by 3,252.22 points, or 10.34%, to 34,710.64 points, setting a record high during the trading session.
The Topix index, which includes major sectors and companies with the largest market capitalization, rose sharply again by 10.56%, or 235.28 points, to 2,462.43.
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Tokyo Stock Exchange opens with strong gainsThe yen plunged on Monday as it strengthened following the Bank of Japan’s (BoJ) latest rate hike and remained negative for several days.
The dollar traded between 143.61 and 146.66 yen in Tokyo on Tuesday, while the yen traded between 157.41 and 160.33 yen against the euro.
Black Monday: Historic drop on Wall Street drags down European and Asian markets
“The market is starting to rise strongly as it should experience a natural recovery after yesterday’s sharp drop,” said brokerage Monex, which warned that the trading day could be volatile.
Japan’s Nomura Bank also warned of market volatility this week. He said that after a sharp drop the day before, “today’s rise can be explained in one word: technical rebound.”
The yen’s depreciation in recent months has helped prices of Japanese companies with international influence, with the yen falling again on Tuesday to 146.01 against the dollar, its highest level since January, after reaching 141.73 the day before.
Some of the companies that have benefited from the stock market recovery are Honda (+14.90%), Toyota (+10.51%), Sony (+7.44%) and Nintendo (+9.87%).
Although less pronounced than in Asian markets, large Western stock markets also closed lower on Monday, with Wall Street down 2.60%, Paris down 1.42%, London down 2.04%, Frankfurt down 1.82% and Madrid down 2.34%.
Asian stocks rebound from slump as Fed faces calls for earlier rate cut
Asian stocks rose on Tuesday after global stocks fell the previous day on fears of a U.S. recession. Calls for Fed to cut rates before next meeting.
Tokyo stocks, which suffered record losses on Monday, surged more than 10% at one point as traders rushed to buy affected shares, in a disastrous day for the market with trading boards filled with red numbers.
Analysts warn There may be more volatility in the future.
In a market rocked by external turmoil, Captain Louis Caputo faces a shortage of waves and dollars
Data on Friday showed the U.S. created an unexpectedly low number of jobs last month, while another report showed continued weakness in the manufacturing sector, triggering the sell-off.
That has prompted warnings that the Fed has kept interest rates at more than two-decade highs for too long and that Risk pushing the economy into recession.
Some analysts pointed to the “Sam’s rule,” which says the economy is in the early stages of a recession if the three-month moving average of unemployment is half a percentage point above its lowest level in the past 12 months. This was triggered by Friday’s data.
OK Wall Street’s three major indexes suffered another setback (Nasdaq fell more than 3%)Better-than-expected data from the key U.S. services sector provided little comfort to investors.
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