The stock exchange in Japan closed again with a profit on Wednesday. The Japanese banks continued to benefit from the rising yields on the bond markets. Apple’s Japanese suppliers were also in demand after the American technology giant unveiled three new iPhones. The fall in the Japanese yen also continued to provide support to export companies.
The Nikkei in Tokyo finished 1 percent in the plus at 21,597.76 points. The Japanese mega-banks Mizuho Financial Group, Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group increased to 4.4 percent. The rise in bond yields makes it easy for Japanese banks to make money with lending. Automakers Honda and Subaru, which generate a lot of sales outside of Japan, benefited from the cheaper yen and rose 3.7 percent and 2.3 percent.
The Japanese Apple suppliers Minebea Mitsumi, Alps Alpine and Murata Manufacturing gained up to 3.6 percent. The Apple share won more than 1 percent on Wall Street after the annual presentation of new products. Other companies that supply parts to Apple also went up. Largan Precision climbed 3.3 percent in Taiwan and LG Display rose 3.9 percent in South Korea.
In Shanghai, the stock market gauge recorded a 0.4 percent drop in the meantime and in Hong Kong the Hang Seng index improved 1.7 percent. The Kospi in Seoul recorded a gain of 0.8 percent and the All Ordinaries in Sydney won 0.1 percent.