The stock market in Japan started the last month of the year with a solid profit on Tuesday. Investors hope that the global economy will recover quickly with the advent of the corona vaccines.
A positive industry figure from China also caused optimism on the stock exchange floors. The other major stock market indicators in the Asian region also gained ground.
The main index in Tokyo, the Nikkei 225, eventually closed 1.3 percent higher at 26,787.54 points. On a macroeconomic front, Jibun Bank reported that activity in the Japanese industry contracted again in November. It was the nineteenth month of decline in a row.
The contraction did decrease compared to a month earlier, and the Japanese industrial sector seems to be slowly recovering from the trough. The Japanese government also announced that it would come up with an additional stimulus package to absorb the short-term economic damage caused by the recent revival in the number of corona infections.
In Shanghai, the stock market was up 1.3 percent in the meantime. According to market researchers Caixin and Markit, activity in the Chinese industry rose to its highest level in a decade in November. The day before, official figures from the Chinese government also pointed to continued growth in the country’s extensive industry.
The Hang Seng index in Hong Kong climbed 1.1 percent, and the Kospi in Seoul rose 1.8 percent. The All Ordinaries in Sydney gained 1.1 percent after the Australian central bank decided to keep interest rates unchanged as expected.