Japanese PM reiterates commitment to tackle Covid


Tokyo, Jan 17 | Japanese Prime Minister Fumio Kishida on Monday reiterated his commitment to tackle the Covid-19 pandemic amid the rampant spread of the Omicron variant.

In his first policy speech at the start of a 150-day regular Diet session, Kishida, describing the virus as “more formidable” than first thought, called on the public’s cooperation in containing the spread of the virus, reports Xinhua news agency.

He also vowed to do more to combat the virus by expediting the rollout of booster shots and vaccinating children.

Kishida pledged that medical provisions would be made available for increasing numbers of those with severe symptoms, who might require hospitalisation.

“I myself have heard Japanese people saying ‘Not again. Can’t take it anymore’. But we have to be mindful that the invisible enemy is much more formidable than has been anticipated,” Kishida said in his policy speech.

“Once again, I ask for your cooperation. Let us overcome this national crisis,” the Prime Minister, who took office last October, said.

The government is reportedly considering declaring a quasi-state of emergency for Tokyo and three nearby prefectures of Saitama, Chiba, and Kanagawa, with Chief Cabinet Secretary Hirokazu Matsuno saying on Monday that new infections are spreading at an “unprecedented rate”.

On Sunday, the Tokyo metropolitan government reported more than 4,000 new cases, and the almost 20 per cent hospital occupancy rate is the local government’s criterion to request the central government declare stricter antiviral measures.

“We need to avoid an emergency situation in which the number of patients with severe symptoms spikes due to an unexpected surge in infections and hospital beds are scarce,” Kishida said.

Also during his 40-minute speech, the Prime Minister referenced his ambitions for achieving a carbon neutral society for Japan.

Referring to the situation as one of the “the biggest challenges” to tackle, Kishida told Parliament that Japan remained committed to bring carbon dioxide emissions to net zero by 2050 to address climate change.

“We will at least double investment in efforts to realise a carbon-neutral society as soon as possible and create an engine for achieving decarbonization and growth for a new era,” said Kishida.

During the parliamentary session an early passage of a record 107.60 trillion yen ($940 billion) budget will be sought to prop up the nation’s battered economy, he said.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India



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