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Increased by approximately 13% in November
The average Nikkei share price continued to grow on the Tokyo Stock Exchange on November 10 for 6 days, temporarily recovering to the 25,000 yen level.
Japanese stocks have been bullish since mid-October. In a clinical trial of a new coronavirus vaccine being developed by US Pfizer and others, the company announced that it was more effective than expected. On the US stock market On the 9th, the 30-share average of Dow Industrial rallied sharply and closed at 29,157.97 cents, 834.57 cents more than the previous day, and the Nikkei average continued to grow, reaching a high level. for the first time in 29 years. Recovered.
Photo = Press Photo of Jiji
JAL passenger plane at Haneda Airport (Ota-ku, Tokyo = November 22, 2020)
The sharp rise continued, and on November 11, the closing price was in the range of 25,000 yen. On the 17th, it rallied to 26,014.62 yen, which is in the 26,000 yen range. Since the closing price on October 30 was 22,977.13 yen, the median price of Nikkei shares had risen approximately 13% on November 17.
The Tokyo Stock Market on November 10 was unique. Since March of this year, stock prices have plummeted due to the “Crown Shock”, but some growth stocks have been the driving force behind the subsequent return. However, on November 10, the main role in the temporary recovery of the Nikkei average of 25,000 yen was value stocks (cheap), where the economic stagnation was a headwind.
Falling Air and Rail Stock Prices Are Rising
Take, for example, Mitsukoshi Isetan Holdings Co., Ltd. The stock’s year-to-date high is 1020 yen, which was set on January 17. After that, the spread of the Corona infection forced him to refrain from doing business, and even after the emergency declaration was lifted, the return of customers was slow, so on July 31 the price was of 479 yen, which is the lowest price since the listing.
The closing price on November 9 is 508 yen. This rose to 574 yen on the 10th. The price increase rate is around 13%. The next day, the 11th, it went up to 604 yen.
On the same day, it was announced on the 12th that sales for the period April-September 2020 were 335.7 billion yen, a decrease of 41.8% over the same period of the previous year, and the final profit it was a deficit of 36.7 billion yen (a surplus of 7.5 billion yen in the same period last year). Although it fell back, the closing price was 574 yen, the same as on the 10th. The level of the share price, which was around 500 yen, was corrected. You can see that valuable stocks have been sought.
Value stocks, that is, stocks that are late, are representative of aviation and railways. Shares in this sector, such as Mitsukoshi Isetan shares, rose sharply on the Tokyo Stock Exchange on the 10th. The closing price of Nippon Airlines Co., Ltd. on the 10th was 1989 yen. It increased by more than 21% compared to the previous day. The closing price of ANA Holdings (HD) shares was 2,660 yen, more than 18%. On the other hand, East Japan Passenger Railway shares rose 15% and West Japan Passenger Railway shares also increased 15%.
On the other hand, the closing price of Nintendo shares, which can be said to be the representative share of growth shares, was 54,010 yen on the 10th, 4% less than the previous day. On the 10th, the delivery room stocks, which were boosted by the crown bruise, fell about 16% and closed at 2,830 yen. It’s rare that value stocks buy so well and growth stocks sell.
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