Sea Transport Companies Help Nikkei to Profit

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The stock market in Tokyo ended slightly higher on Thursday. In particular, the Japanese sea transport companies were in the spotlight thanks to solid results from container carrier Nippon Yusen.

 

However, concerns about the continued rise in the number of corona infections in Japan limited profits. In Tokyo, where the Olympic Games are held, there was a record number of almost 4200 new corona cases.

The main index in Tokyo, the Nikkei 225, eventually closed 0.5 percent in the plus at 27,728.12 points. Nippon Yusen was the most vigorous climber, with a price jump of more than 12 percent. Industry peers Mitsui OSK Lines, and Kawasaki Kisen gained 7 and 6 percent. The results of infrastructure and energy company Hitachi Zozen (plus 6.6 percent) also appealed to investors.

Electronics group Sony, which already came with figures on Wednesday after the closing bell, showed recovery and thickness more than 2 percent. Industry colleague Ricoh, on the other hand, plummeted more than 11 percent after disappointing results.

The Hang Seng index in Hong Kong was down 0.4 percent in the meantime. The Chinese game companies were struggling with a new attack on the sector by Beijing. The state newspaper The Securities Times reported that game companies should no longer receive tax breaks because the sector is now mature.

The favourable tax measures were introduced to promote the development of the domestic software sector. As a result, Tencent, a major player in the online gaming market in China, fell 3 percent. Earlier this week, concerns were expressed about the amount of time Chinese young people spend playing games.

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