Global Market News

Nikkei 225 Up 0.5% on Steady Interest Rates, Softer Yen


Last updated: 03/03/2021 05:20:37

05:20 AM EST, 03/03/2021 (MT Newswires) -- The Nikkei 225 opened higher Wednesday, waffled, but finished up 0.5% as traders took comfort from steady global interest rates and a softer yen, the latter regarded as a positive in export-oriented Japan.

Leading the upside were Kobe Steel (KBSTY, 5406:Tokyo), up 9.1%, followed by steel-maker JFE (JFEEF, 5411;Tokyo), up 8.4% and then industrial engineers Hitachi Zosen (7004:Tokyo), up 8.0%.

On the downside were heavy-machinery maker Kubota (KUBTY, 6326:Tokyo), off 3.6%, and then plumbing-fixtures maker Toto (TOTDY, 5332:Tokyo), off 3.1%.

In economic news, the au Jibun Bank Japan seasonally adjusted Japan Services Business Activity Index, which tracks changes in the volume of business activity compared with one month previously, edged up from 46.1 in January to 46.3 in February.

The survey is compiled by IHS Markit and readings above 50 indicate an overall increase compared to the previous month whereas those below indicate an overall decrease.
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