The stock market in Tokyo rose sharply on Friday. Investors dismissed concerns about the rising number of corona infections in Japan and a possible extension of emergency in parts of the country.
US President Joe Biden’s $ 6 trillion budget plans fueled hopes that the United States will get the rest of the world out of the corona crisis.
In Hong Kong, JD Logistics had a successful stock market debut with a price increase of almost 6 percent. The logistics arm of the Chinese e-commerce company JD.com raised $ 3.2 billion on the IPO and has a market value of about $ 36 billion.
It was the second-largest IPO in Hong Kong this year. JD.com, a significant competitor of the Chinese web store group Alibaba, fell 0.1 percent. The Hang Seng index in Hong Kong was up 0.4 percent in the meantime.
The Japanese tech investor SoftBank, which has a significant interest in JD Logistics, added more than 3 percent. The Nikkei in Tokyo entered the weekend with a gain of 2.1 percent on 29,149.41 points. Japanese steel companies and machinery manufacturers were among the strongest risers on speculation that the Americans’ massive spending plans will accelerate the global economic recovery.
Japanese Prime Minister Yoshihide Suga will hold talks on Friday about an extension of the state of emergency in several regions, including in the capital Tokyo. The Olympic Games will be held there in less than two months.
