Japan’s Nikkei share average took advantage on feast in Wall Street as jumped on Tuesday, erasing its previous session loss, after the US equities pulled off furious runs before President Donald J. Trump deliver his speech about infrastructure spending.
The Nikkei average added up 0.7%, with all its sectors settling in the positive territory, to finish at 19 235.10, a quick rebound from its Monday close where it touched its 2 ½ week low and its fourth consecutive losing streak.
Exporting companies led the surge yesterday, with Toyota Motor Corp tacking on 0.9% while Honda Motor Co gained 1.2%. Panasonic Corp also contributed modest gain as it advanced 1.3%.
The broader Topix clinched 0.9% gain to end at 1 547.03 while the JPX-Nikkei index touched 13 850.75 after climbing 0.8%.
But the biggest driver on the index’s rise was the rally made by the US equities as well as the momentum brought by the US dollar ahead of Trump’s first policy address to Congress.
The blue chip Dow Jones industrial average romped its way to its 12th straight win streak while the energy sector S&P 500 and tech-heavy index NASDAQ Composite soared 0.10% and 0.28% respectively.
An expert from the Nisay Asset Management claimed that investors now hope that the president’s remark will finally give clarity on growth policy.
Markets have been on a limbo of hopes and disappointment about Trump’s lack of details with his economic policy.