[Nikkei closes up for 5 consecutive trading days in about 6 months]
On the 18th, major Asian stock markets rose all at once. The rise of the New York Stock Exchange last night after Russias first default crisis was over, had an impact on the Asian market as well. However, geopolitical uncertainty surrounding the Ukraine war still limited the rise.
The Nikkei 225 Index of the Tokyo Stock Exchange closed at 26,827.43, up 174.54 points from the previous trading day. This is the 5th consecutive trading day. It is the first time since September 8 of last year that the Nikkei Index closed for five consecutive trading days.
The Nikkei Shimbun reported that “the Nikkei Index, which started trading weakly compared to the previous day, recorded an increase of more than 200 points during the day thanks to the rise of the New York Stock Exchange”, and the fact that Russia paid interest on U.S. dollar denominated government bonds maturing on the 16th It was explained that it acted as a factor in the rise of the index. However, he added, “The rise was limited due to concerns about the rise for the fifth consecutive day and uncertainty about the Ukraine crisis.”
According to Reuters, Russian currency trading bank JP Morgan processed dollar cash sent by the Russian government to pay interest on government bonds and deposited it into Citigroup, a payment agent, and some creditors received the interest paid by Russia, contrary to concerns. passed on On the 17th, the Dow Jones Industrial Average of the New York Stock Exchange rose 1.23%, the Standard & Poors 500 Index rose 1.23%, and the Nasdaq Composite Index finished trading with a 1.33% gain on the prospect that the Russian default crisis had passed.
The Chinese stock market is also on the rise. Chinas Shanghai Composite Index finished trading at 3251.07, up 36.03 points from the previous trading day. Taiwans Charity Index closed at 17,456.52, up 8.30 points from the previous day. The Hong Kong Hang Seng Index is trading at 21,502.95, up 1.72 points from the previous day, as of 4 pm Korean time.
The Shanghai Composite Index rose on the possibility of a rate cut by the Peoples Bank of China on the 21st. The market saw that the Peoples Bank of China is likely to cut the LPR, the base rate, on the 21st, and predicted that the 1-year and 5-year LPRs would be cut by 0.05 percentage points each.
The Hang Seng index showed a downward trend from the beginning of the market on profit-taking sales following the sharp rise the day before and on the wait-and-see situation ahead of the phone talks between the US and China leaders. However, it turned to an uptrend as investor sentiment recovered in the afternoon trading. U.S. President Joe Biden and Chinese President Xi Jinping will hold a telephone conversation tonight to discuss the situation in Ukraine and bilateral concerns.
