Japanese Nikkei Index Surges 3% and Sets New Record

In Asia, the Chinese stock markets remain closed for the Chinese New Year holiday. Meanwhile, Japan’s Nikkei is up about 3% at this hour, reaching a new record high of 38,000. The Kospi index in South Korea has also risen by 0.8%. US futures are trading slightly lower this morning.

Last night on Wall Street, the main indices closed in a mixed trend. The Nasdaq fell 0.3%, the S&P500 lost 0.1%, and the Dow Jones added 0.3%, breaking an all-time high. Stock nature jumped by 7.5% after Piper Sandler upgraded their recommendation on the stock to ‘overweight’ from ‘neutral’.

The shares of Israeli company Beamr skyrocketed during trading on Monday by about 1500%, after it reported a collaboration with chip giant Nvidia. The Tel Aviv-based company was issued a year ago when it raised $7.8 million at a valuation of about $48 million. At the end of trading (Monday), increases in the stock moderated and it closed with a jump of around 400%. The company’s market value was $129 million at the close on Wall Street.

In the US government debt market, the 10-year bond yield fell slightly last night and traded around 4.16%. The two-year bond yield was 4.47%.

This morning, oil prices are trading slightly higher, with a Brent barrel selling for $82 dollars at this time. Dr Michael Bafman, chief economist at Bank Leumi, wrote in his review that “the volatility in oil prices is expected to remain relatively high due to security events in the Middle East.”

Today unemployment data in Great Britain and consumer price index data in Switzerland are expected to be published alongside inflation data in the USA at 15:30 Israel time

By Editor

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