The stock exchange in Tokyo gained ground on Monday. The sizeable Japanese steel companies, in particular, showed substantial price gains thanks to the strong outlook from Nippon Steel.
The Japanese car manufacturers, who will come up with figures later in the week, were also considerably higher.
In addition, investors processed the new record levels on Wall Street, where a disappointing job report led to speculation that interest rates in the United States will remain low for a long time to come. Due to the faltering job engine, the US economy does not seem to be overheated, and the central bank does not have to reduce its support policy.
The main index in Tokyo, the Nikkei 225, eventually closed 0.6 percent higher at 29,518.34 points. Nippon Steel thicknesses almost 5 percent. The world’s third-largest steelmaker expects to make more profit this year than analysts expected. Industry peers JFE Holdings and Daido Steel rose to nearly 7 percent.
Car manufacturer Nissan, which opens its books on Tuesday, climbed 4 percent. Competitor Toyota released the results on Wednesday and was set 1.8 percent higher. Tech investor SoftBank, which also comes with figures this week, won 1.7 percent.
The Chinese stock markets showed minor minuses. The stock market gauge in Shanghai was 0.1 percent lower, and the Hang Seng index in Hong Kong fell at 0.3 percent. The All Ordinaries in Sydney climbed 1.1 percent thanks to a sharp increase in Australian business confidence in April.
The Kospi in Seoul was a positive outlier with a profit of 1.6 percent. Especially the giant South Korean technology companies, such as Samsung (plus 1.6 percent), were picked up following the price gains in the American tech sector.
