The Nikkei recorded a strong rise in its overall value today (April 23rd), with the increase driven by rises on Wall Street in the previous day of trading.
After the Nasdaq and the S&P both increased on Tuesday, investors' confidence spilled over on to the Nikkei, which was up by 0.7 per cent at the end of today's session.
The market therefore closed at 14,495.44, which is still down on the two-week high reached by the index on Monday, but the losses sustained yesterday were mostly erased. This year has been a testing one for the Nikkei so far, after the index outperformed global rivals in 2013.
Takashi Hiroki, chief strategist at Monex Securities, told Reuters that investors may be on the hunt for stocks with a low price-earnings ratio.
He cited the example of Bridgestone, which rose by more than two per cent yesterday.
There were also big jumps in the share price of Mazda, which was up by 2.2 per cent, while Aiful increased in value by 6.5 per cent and Acom was up 5.7 per cent.
Learn about the Asian markets and CFD trading at City Index
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.