Nikkei Lower in Anticipation of Fed Chief Powell Speech

The Japanese stock market started the new year with a loss on Monday. Fears of more stringent corona measures in Tokyo to stop the rise in corona infections in the Japanese capital have caused investor reluctance.


The other major stock market indicators in the Asian region started with gains in 2021 thanks to further growth in the Chinese industry in December.

The main index in Tokyo, the Nikkei 225, ended up 0.7 percent lower at 27,258.38 points. According to news agency Kyodo News, Japanese Prime Minister Yoshihide Suga is considering declaring a state of emergency in Tokyo and the surrounding areas where the number of corona cases has soared in recent days.

Airlines, transport companies and retailers, in particular, were under pressure from fears of new travel restrictions and shorter opening hours for shops.

In Shanghai, the stock exchange was up 0.7 percent in the plus, and the Hang Seng index in Hong Kong gained 0.5 percent. Figures from market researchers Caixin and Markit showed that the considerable Chinese industry activity picked up again in December. The growth rate was somewhat slower than in November.

China Mobile, China Telecom and China Unicom Hong Kong fell to 4 percent on the Hong Kong stock exchange. The New York stock market operator is going to end the listings of the three Chinese telecom companies. The stock market operator does this on the orders of the Trump administration.

Last month, it banned American investments in Chinese companies that, according to Washington, are controlled by or owned by the military in China. Beijing has announced that it will introduce countermeasures.

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