Shares Asia: The Prices Continued to Dither
Without further bad news on the international trade conflict, on Tuesday, at least in Japan, the prices continued to dither. The Tokyo benchmark Nikkei finished trading 1.30 percent higher at 22 664.69 points.
A weaker yen supported. He helps export-heavy companies. A potential second meeting between US President Donald Trump and North Korean leader Kim Jong Un would also be positive, commented analyst David Madden of CMC Markets UK.
In China, which is still trading, however, the CSI 300 index, with its 300 most important stocks on the Chinese mainland, has drifted more sharply into the red with 0.36 percent to 3218.54 points. The Hang Seng in Hong Kong also lost 0.48 percent to 26,486.05 points. The day before, both indices had given way after a very weak week last week.
The focus in Japan was the planned acquisition of the US chip manufacturer IDT by the Japanese group Renesas for about 6.7 billion US dollars. With this acquisition, the Renesas Group, which has hitherto focused primarily on the automotive sector, intends to expand its activities in the area of data centers and communications. According to the company, Renesas wants to fork out $ 49 per IDT stock, a premium of around 16 percent on Monday’s closing price. Renesas shares gained 4.4 percent./ajx/jha/