Business & Economy

The Nikkei rises 0.73% due to technology and expectations about a vaccine

Tokyo, Jul 21 (efe-epa).- The main index of the Tokyo Stock Exchange, the Nikkei, rose 0.73% on Tuesday thanks to the push of technology companies and expectations about a vaccine for the SARS-CoV-2 coronavirus after progress in a British clinical trial.

The Nikkei, which groups the 225 most representative titles on the market, gained 166.74 points, up to 22,884.22 integers.

The Topix, which includes the firms in the first section, those with the largest capitalization, advanced 5.71 points, 0.36 percent, to stand at 1,582.74 units.

Tokyo parquet opened the session higher following the rise on Wall Street, where the Nasdaq Technology Index climbed 2.51 percent after breaking a week-long streak on the decline, helping to advance the Japanese technology sector.

Investor spirits improved after reports that the new coronavirus vaccine being developed by the University of Oxford and the pharmaceutical company AstraZeneca have had positive results in the first clinical trials.

The positive results of recent tests in the United Kingdom and the United States raised expectations of the prompt obtaining of an effective vaccine against COVID-19 that will help normalize the situation and the subsequent economic recovery.

The depreciation of the yen against other currencies also contributed to the stock market rise, a trend that benefits its exporters.

The service sector, the pharmacist and the manufacturers of chips and electronic devices reaped the biggest gains of the day.

The pharmaceutical company Daiichi Sankyo registered the highest advance among the companies listed on the Nikkei, at 5.62 percent.

It was followed by the company Z Holdings, operator of Yahoo Japan and subsidiary of Softbank, with an advance of 5.38 percent.

Telecommunications group Softbank brought together the highest volume of operations for the day and rose 3.06 percent.

It was followed by the developer and publisher of Nintendo video games and the technological Sony, whose shares climbed 1.8 percent and 1.57 percent.

Trading volume amounted to 2.11 trillion yen (17,210 million euros or 19,700 million dollars). EFE-EPA


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