Sony, Nintendo Stocks Jump as Japanese Market Bounces Back After Trump Shock
Japan's Nikkei 225 stock index jumped 1,093 points, or 6.7 percent, on Thursday, rebounding from the steep fall on Wednesday triggered by news of Donald Trump's victory in the U.S. presidential election.
The gains included a boost for Sony Corp. and other entertainment and video gaming stocks.
Sony shares rose more than 6 percent, Nintendo's stock jumped 6.5 percent, studio/distributor Toho 4.5 percent and TV network Tokyo Broadcasting Systems nearly 6 percent. The moves allowed all companies to regain ground after big losses posted on Wednesday.
Tokyo's main index had shed nearly 1,000 points on Wednesday as it became clear the Republican candidate was going to win the presidency just before markets were closing at 3 p.m. local time. Tokyo was the hardest-hit of major global stock markets, losing billions of dollars in market value.
By the time Tokyo reopened on Thursday, U.S. and European markets had overcome early post-election losses to post healthy gains, with Japanese traders apparently taking their cues from their U.S. counterparts.
Other markets in Asia, which had felt less of the "Trump shock" on Wednesday, also posted Thursday gains. Shanghai closed up 1.4 percent, Hong Kong's Hang Seng index added nearly 2 percent, South Korea's Kospi was up 2.4 percent, and India's Sensex up 1.4 percent.
This article was originally published by The Hollywood Reporter.
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