Nikkei 225 closed above 17,000 points

Noam Stiekema

The leading stock markets in Asia reported mixed results on Tuesday after another record on Wall Street a day earlier. The main market focus was directed to Japan, where trade was the most successful in the region. On Monday, the indices of the stock exchange in New York ended with increases, as S&P 500 and […]

Nikkei 225

Nikkei 225The leading stock markets in Asia reported mixed results on Tuesday after another record on Wall Street a day earlier. The main market focus was directed to Japan, where trade was the most successful in the region. On Monday, the indices of the stock exchange in New York ended with increases, as S&P 500 and Dow Jones closed at new highs amid positive reporting season.

The Japanese benchmark Nikkei 225 closed above 17,000 points for the first time in seven years, a day after closing at a one-week low. The mood was upbeat after the Bank of Japan has put 38 billion JPY in local exchange traded fund after market close on Monday. Incentives were part of a comprehensive program to boost the institution. The data showed that the current account balance in September increased by 61.9% from a year earlier, marking the third consecutive month of surplus. The capitalization of Sumitomo Metal Mining rose 5.0% after the company raised its profit forecast for the year.

Chinese shares reporting increases in the majority of the session, reaching a new peak of three to close but eventually the red. Earlier gains were supported by the rise in financial shares. Founder Securities added 7%, while Agricultural Bank of China rose by 6%. The market capitalization of China Minsheng Banking rose 2.5% after the company announced plans to sell preferred shares worth 30 billion CNY.

Australian benchmark S&P ASX 200 extended its decline as investors ignored the study of National Australia Bank, which showed that the conditions for doing business reported its biggest improvement from last half year in October. Miners BC Iron, Atlas Iron and Mount Gibson erased between 5 and 8% due to the decline in the price of iron ore, which retreated below 76 USD per ton – unheard of since June 2009 levels. Fertilizer manufacturer Incitec Pivot added over 5.0% after raising the final dividend to 7.3 cents from 5.8 cents per share and 33% fall in annual net profit.

South Korean shares ended the session at its highest level this month, rising for a fourth day after news of the free trade agreement between the country and China. Hyundai Motor added almost 6% after announcing it will repurchase its shares worth 413 million USD. Kia Motors does surged by over 2%.

Read this next

Retail FX

ThinkMarkets expands CFDs lineup to over 4000 ETFs and shares

ThinkMarkets has expanded its service offering by incorporating 2500 new CFDs on shares and ETFs on its ThinkTrader platform.

Retail FX

France regulator warns investors of Omega Pro, Businessempire.fr

France’s financial markets regulator alerted investors that scams related to Omega Pro Ltd are beginning to circulate, with the blacklisted firm capitalizing on the situation to run a range of “unrealistic” offers.

Digital Assets

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics.

Institutional FX

FX volumes at MOEX halved in April as ruble gains gorund

Currency trading at Moscow Exchange (MOEX) halted its upward route in April as monthly volumes nearly halved from a month earlier.

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.

Technology

Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.

<