Japanese Government Denied Tokyo Olympics will be Discontinued Socks Still Plummeted

As the Nikkei 225 Index hit a new high in more than 30 years yesterday (21st), it triggered profit-making selling pressure. Although the Japanese government denied the rumors that the Tokyo Olympics will be discontinued, the East Olympics-related stocks still plummeted, dragging down the Nikkei 225. The index weakened on the 22nd, falling 0.44% or 125.41 points at the end to close at 28,631.45 points, the second decline in 3 trading days.

The Topix Index (TOPIX) fell 0.21% (down 4.0 points) to close at 1,856.64 points, the second decline in 3 trading days. The number of companies on the First Section of the East Stock Exchange was 693 gainers, 1,416 losers, and 80 firms remained flat. Today’s turnover of the First Section of the East Stock Exchange was 2,373.4 billion yen, which was the fourth consecutive trading day above the 2 trillion yen mark, which shows the active limit of buying.

In terms of the performance of stocks, 11 of the 33 stocks in the First Section of the Top Securities rose, among which the shipping industry stocks rose the most, followed by other products, electrical gas industry and petroleum and coal products in order.

According to the MoneyDJ XQ global winner system quotation, as of the close of the Japanese stock market on the 22nd (14:00 Taipei time), the U.S. dollar appreciated (ie, the yen depreciated) 0.05% to 103.58 against the yen.

The British Times reported on the 21st that according to officials of the Japanese ruling party, the Japanese government has privately concluded that due to the spread of the new crown pneumonia epidemic, the Tokyo Olympics this year is expected to be suspended. The Japanese government has shifted its focus to fighting for the 2032. Tokyo hosts the Olympics. The Tokyo Olympics was originally planned to open on July 24, 2020, but due to the epidemic, it was postponed for one year to July 2021. Japan’s Toao concept stocks plummeted upon hearing the news. Dentsu plunged 2.19%, and Keikyu plunged 4.16%.

However, with regard to the above-mentioned British media report, Japanese Deputy Chief Cabinet Secretary Igakura denied it on the 22nd, saying that “the content of the report is not factual.” Japanese Deputy Prime Minister and Finance Minister Taro Aso also stated on the 22nd, “I don’t know who it is. I will not reply one by one.”

Japanese Prime Minister Yoshihide Suga also stated on the 22nd, “In order to achieve a safe and secure Olympics, we are negotiating with the International Olympic Committee (IOC) and discussing specific anti-epidemic countermeasures. We have reached a consensus with the IOC chairman and will cooperate closely in the future to achieve Tokyo. Olympics”.

Sharp’s recent strong share price continued to soar by 3.95% today, closing at 2,156 yen, a new closing high in the past 2 years and 3 months (since October 8, 2018). Sharp’s stock price has soared nearly 38% this year, and its performance is far superior. During the same period, the TOPIX index rose nearly 3%.

Japanese shipping stocks bucked the trend and surged. Japan Post (NYK) surged 2.25%, Merchant Marine (MOL) rose 1.58%, and Kawasaki Steamship (K-Line) rose 0.90%. The increase in ship detentions in China’s ports has led to a decrease in supply space. The daily rent of large bulk ships has soared 1.4 times in the past month.

Shiseido surged 4.43%. Shiseido announced on the 22nd that it plans to sell the daily necessities business including the hair care brand “TSUBAKI” to CVC Capital Partners, a large European investment fund. According to Japanese media, sales are estimated to exceed 100 billion yen.

Japan Iron & Steel plunged 3.51%, and Tokyo Steel soared 27.99% (300 yen up). Nippon Steel has implemented a TOB on Tokyo Steel in a raid, and increased its shareholding ratio to 20% at a premium of 40%.

Nintendo jumped 1.85%, and Sony fell 1.18%. The sales of the Nintendo Switch series in Japan have achieved good results, breaking through 100,000 units in 11 consecutive weeks for the first time in history.

Sumitomo Metal Mine, a supplier of Tesla battery materials, rose 0.30%. The demand for EVs is squeezed, and Sumitomo Metal’s mine is rumored to double the production capacity of the key material “positive material” for lithium-ion batteries.

Chip resistor factory KOA surged 1.34%. The demand for vehicles is excellent, and the KOA upgrades the financial test.

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