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Tokyo Stocks Soar on Yen's Plunge, Trump Election Speculation
Tokyo stocks soared due to the yen's plunge, fueled by expectations of a Trump victory in the US election. Exporters benefited from the stronger dollar, leading to significant gains in the Nikkei and Topix indices.
English
Japan
EconomyUs PoliticsElectionMarketsStocksCurrency
Kyodo NewsTokai Tokyo Intelligence Laboratory Co.Republican PartyDemocratic Party
Donald TrumpKamala HarrisSeiichi Suzuki
- How did the Nikkei Stock Average and Topix index perform?
- The Nikkei Stock Average closed 2.61 percent higher at 39,480.67, while the Topix index gained 1.94 percent to 2,715.92. Bank, machinery, and insurance stocks led the gains.
- What was the main factor driving the surge in Tokyo stocks?
- Tokyo stocks surged due to the yen's sharp decline against the dollar, boosting exporters' profits. This was largely attributed to investors anticipating a potential Donald Trump victory in the U.S. presidential election.
- Who commented on the short-term nature of the market's reaction?
- Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory Co., noted that short-term investors were primarily driving the market's response, with many awaiting further developments in the U.S. election.
- What was the highest point reached by the US dollar against the Japanese yen?
- The dollar reached a three-month high against the yen, reaching 154.38 yen in Tokyo, fueled by early U.S. election results suggesting a Trump lead in key states.
- What are the potential economic impacts of Donald Trump's proposed policies on the dollar and yen?
- Trump's proposed policies, including tax cuts and stricter immigration, are expected to increase inflation and strengthen the dollar against the yen, benefiting Japanese exporters.