Nikkei surges amid weakening yen
On Tuesday, Japanese stocks soared slightly, thus calming down market participants, who are greatly worried that the country’s strong currency blocks efforts to stimulate the world’s third largest economy.
The Nikkei Stock Average leapt 1.1%, because the Japanese yen rebounded from its recent gains against the greenback. Japanese stocks found themselves on track to report the highest one-day revenue since Marche 10, when this Japanese benchmark ascended 1.3%. The key Japanese currency was recently hanging around at 108.22 a greenback.
In China shares tumbled when on Monday, China’s securities regulator told it had already approved up to seven public offerings, supposed to raise about 2.8 billion yuan. Market participants were selling their shares ahead of the actual offerings, following concerns that an approaching wave of new stock-sales would divert capital from other shares. By the way, the Shanghai Composite Index sagged 0.3%.
At the same time, stocks in other Asian markets went up. Traders took on risk as they followed upbeat sentiment that a somewhat weaker yen against the greenback and a recent crude surge. Obviously, commodities could help to recover growth in Asia.