Japan's Nikkei stock index rose 0.7% to 47,997.81 at the start of trading on Thursday. This increase followed the gains seen in most US stock markets overnight. Positive sentiment on Wall Street provided additional encouragement for Japanese investors to re-enter the market.
According to analysts from Citi Research, there is a strong opportunity for Japanese stocks to continue strengthening over the next 6 to 12 months. One reason is that regardless of the outcome of Japan's political landscape, the new government is likely to implement expansionary, or pro-market, economic policies.
Some of the stocks that recorded the highest gains on the Nikkei index included Hankyu Hanshin Holdings, which surged 5.8%, Kioxia Holdings, which rose 5.4%, and Renesas Electronics, which rose 5.3%. These stocks reflect sectors currently in high demand among market participants.
Meanwhile, the US dollar weakened slightly against the Japanese yen to 150.88, down from 151.06 at the close of trading in New York on Wednesday. This currency movement is also a concern for investors as it could impact the performance of Japanese companies that rely on exports. (ads)
Source: Newsmaker.id
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