Japanese stocks rose today, Tuesday, with investors’ acquisition of shares that decreased severely, even at a time when data showed a sudden contraction of the economy.
The Nikki index rose 0. 1% to close at 27990. 17 points, while the broader Topics index increased 0. 37% to 1964. 22.
The Japanese economy was unexpectedly shrinking for the first time in a year in the third quarter, which led to more ambiguity about expectations of the economy as families and companies’ consumption of global recession and weak yen and high import costs were affected.
The shares of Riccott Holdings declined 6.
67%, becoming the biggest loser to the Nikki index, after the recruitment agency announced disappointing profits for investors for the first half, and the shares of the advertising giant Dentu Group lost 5. 96%.
The shares of 143 of the companies listed on Nikki rose, and the shares of another 143 fell, while two shares settled.
The shares of the banking sector rose 2.
31%, driven by the strong profits of each of the Sumitomo Mitsoy Financial Group and the Mizuho Financial Group in the second quarter.
Sumitomo Mitsoy’s share increased 4. 17%, and Mizuho’s share increased 1. 3%.
Chionoji pharmaceutical shares rose 2. 03%, after a report stated that the Japanese government will re-evaluate the Kofid-19 from the company’s production later this month in order to grant it approval for emergency use..
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