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Tokyo stocks rise as Evergrande fears ease on coupon payment reports
2021-10-22 00:00:00.0     每日新闻-最新     原网页

       

       This file photo shows the Tokyo Stock Exchange. (Mainichi)

       TOKYO (Kyodo) -- Tokyo stocks ended moderately higher Friday as concerns eased over the fate of China Evergrande Group after reports that the debt-laden property developer had started to make coupon payments on bonds.

       The 225-issue Nikkei Stock Average ended up 96.27 points, or 0.34 percent, from Thursday at 28,804.85. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 1.42 points, or 0.07 percent, higher at 2,002.23.

       Gainers were led by precision instrument, electric appliance and machinery issues.

       The U.S. dollar was steady in the upper 113 yen line, as with its upside capped by modest selling by Japanese exporters for settlement purposes, dealers said.

       At 5 p.m., the dollar fetched 113.88-90 yen compared with 113.95-114.05 yen in New York and 114.11-13 yen in Tokyo at 5 p.m. Thursday.

       The euro was quoted at $1.1641-1643 and 132.57-61 yen against $1.1620-1630 and 132.46-56 yen in New York and $1.1640-1642 and 132.83-87 yen in Tokyo late Thursday afternoon.

       The yield on the benchmark 10-year Japanese government bond inched up 0.005 percentage point from Thursday's close to 0.090 percent, tracking higher long-term U.S. Treasury yields overnight.

       Fears of an imminent default by Evergrande Group receded after Chinese media reported Friday that the property developer, which has caused jitters across global markets, has begun to make coupon payments on dollar-denominated bonds due Saturday, brokers said.

       But market participants continue to be concerned that the outlook for Evergrande Group could affect the Chinese economy, as the risk of default remains, said Kazuo Kamitani, a strategist in the Investment Content Department of Nomura Securities Co.

       The market rebounded after the benchmark Nikkei index dropped nearly 2 percent Thursday, also driven by solid high-tech issues following overnight gains in U.S. counterparts.

       Stock gains remained moderate, however, as investors were cautious about taking fresh positions ahead of the weekend and before Japanese companies begin reporting their latest earnings in earnest next week, brokers said.

       "Although market expectations are high for (strong) domestic corporate earnings following those in the United States, investors are refraining from making big moves as they want to see the extent to which companies will alter their profit forecasts," Kamitani said.

       Investors were also waiting to see whether the ruling Liberal Democratic Party would secure a comfortable majority in the general election on Oct. 31, he said.

       On the First Section, declining issues outnumbered gainers 1,122 to 933, while 129 ended unchanged.

       Chip-related issues were higher after chip-wafer maker Disco Corp.'s earnings for the April-September period, released Thursday, beat market expectations, brokers said.

       Disco ended up 900 yen, or 3.0 percent, at 31,000 yen, while Screen Holdings soared 450 yen, or 5.0 percent, to 9,480 yen and Tokyo Electron climbed 2,140 yen, or 4.4 percent, to 50,750 yen.

       Shinsei Bank dropped 6 yen, or 0.3 percent, to 1,910 yen after it said Thursday it had decided to reject a tender offer by major online financial group SBI Holdings, setting the stage for what could become a hostile takeover bid.

       Trading volume on the main section rose to 1,051.24 million shares from Thursday's 1,041.91 million shares.

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标签:综合
关键词: earnings     brokers     Thursday     Tokyo     China Evergrande Group     Nikkei     percent     issues     Stock    
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