Asian markets progressed on Tuesday, November 19 in the middle of the day, inspired by the upward movement of Tech the day before on the New York Stock Exchange while observing a certain caution before the announcement of the results of the American Nvidia.
Tokyo inspired by semiconductors
On the Japanese market, the flagship Nikkei index ended morning trading up 0.55% to 38,429.37 points, with the broader Topix index gaining 0.47% to 2,704.47 points. The rebound of the Nasdaq index on the New York Stock Exchange benefited in particular certain Japanese stocks linked to semiconductors: Advantest gained 4.17% and Sumco 0.51%, Tokyo Electron remaining in balance (+0.02 %).
However, the Japanese markets are tempering their enthusiasm before Wednesday’s announcement of the results of the American semiconductor giant Nvidia, which became the world’s largest capitalization at the beginning of November after overtaking Apple. “With its dominant position in terms of market capitalization and artificial intelligence, Nvidia has become the ultimate heavyweight in the market”and its results will be “a decisive moment to fuel (or not) AI-powered optimism”and highlighted Stephen Innes of SPI Asset Management.
The yen suspended at the BoJ
Traders also continue to assess the likelihood of a rate hike by the Bank of Japan (BoJ) in December, after its governor Kazuo Ueda suggested on Monday that such a monetary decision was not ruled out, which weighed on the Japanese currency. “With the yen weakening against the dollar, the possibility of a rate hike at the December meeting is likely to be a market concern going forward”commented Takuma Ikemoto, market analyst at Tokai Tokyo Intelligence Lab.
Around 02:20 GMT, the greenback rose to 154.13 yen per dollar.
Chinese stock markets cautious
Chinese markets are also benefiting from gains in American tech, in a climate of persistent nervousness after the disappointment linked to recent announcements of stimulus measures from Beijing and fears of increased Sino-American trade tensions.
Around 02:25 GMT in Hong Kong, the Hang Seng index appreciated by 0.35% to 19,645.60 points.
The Shanghai Composite Index fell 0.24% and that of Shanghai gained 0.37%.
Black gold always in the green
Oil prices continued their rise on Tuesday after finishing sharply higher on Monday, inflated by the shutdown of the main Norwegian field and by fears of a widening conflict between Russia and Ukraine.
Around 02:20 GMT, the price of a barrel of Brent from the North Sea increased by 0.14% to $73.40, and that of American West Texas Intermediate (WTI) also gained 0.14% to $69.26.
Bitcoin at $91,000
Bitcoin is catching its breath after having exceeded $92,500 the day before, not far from its absolute record of last week. Around 02:00 GMT the cryptocurrency star was hovering around $91,000.
