nintendo: Japan’s Nikkei follows Wall St higher ahead of US CPI; nintendo jumps
The Nikkei ended up 0.25% at 28,614.63 after hitting 28,659.76, its highest since Aug. 26, earlier in the day. Of the 225 constituents of the index, 128 rose, 86 fell and 11 closed.
The broader Topix rose 0.32% to 1,986.57.
The U.S. S&P 500 rose more than 1% overnight ahead of Tuesday’s consumer price index report, which will be scrutinized for clues about the aggressiveness of the tightening campaign. Federal Reserve policy.
Energy was the Nikkei’s best performing sector, gaining 0.85% as crude continued to rebound from multi-month lows amid supply issues heading into winter in the US. ‘northern hemisphere.
Nintendo was the top performer in the Nikkei, climbing 5.51% after posting record domestic launch sales for its shooter ‘Splatoon 3’ on the Switch console, surpassing the debut of the hit title ‘Animal Crossing: New’. Horizons”.
Travel-related shares rose after a report on Monday said Japan plans to waive tourist visa requirements for some countries as part of a further relaxation of border controls.
Travel agency HIS gained 3.88% and airline ANA Holdings rose 2.07%.
“Further easing of border controls will pave the way for a revaluation of Japanese equities,” said Hajime Sakai, chief fund manager at Mito Securities.
Despite an overall weak yen having several downsides for Japan, “if inbound tourism really comes back, the merits of the weak yen will be magnified,” he said.
The yen continued to rise from last week’s 24-year low near 145 to the dollar, with the latest trading near 142.
Automakers were hurt by the strengthening yen, which reduced revenue from overseas sales. Mazda was the worst performer in the Nikkei, down 3.8%. Subaru lost 2.73% and Mitsubishi Motors fell 1.91%.
Toyota fared relatively better, falling just 0.14%.