The Japanese stock exchange began on Monday with profits on the last week of the moving COVID-19 year 2020. The news that American president Donald Trump has signed off on the stimulus package for the US economy has created relief for investors. The further roll-out of the vaccine in Europe also provided support for trade.
The main index in Tokyo, the Nikkei 225, ended up 0.7 percent higher at 26,854. 03 points. Sharp was one of the biggest loosers with a loss of over 3 percent. The Japanese technology group indicated that one of its subsidiaries was suspected of accounting irregularities.
In Hong Kong, Alibaba (minus 7%) once again collapsed. Alibaba announced that it would increase its share purchase program from 4 billion to 10 billion dollars. But Sunday also became known that the Chinese government is imposing restrictions on the large payment service provider Ant Group. The subsidiary of Alibaba should stop providing consumer credit and providing asset management services. Last Thursday, Alibaba was also significantly reduced following reports that the Chinese competition authority is going to investigate the strong position of the web store group.
The other major Chinese technology companies were also under pressure because of the fear that Beijing will also tackle these companies. Tencent, in which the tech investor Prosus quoted in Amsterdam has a major interest, fell almost 5%. The Hang Seng index in Hong Kong decreased by 0.1% in the meantime, and the Shanghai Stock Exchange remained virtually flat. The Kospi in Seoul dropped 0.1 percent. In Australia, the stock exchange was closed.