You are here

Tokyo: Stocks open 1.34% higher

jp.jpg

[TOKYO] Tokyo stocks opened 1.34 per cent higher on Wednesday following a positive lead from Wall Street where shares rose on easing concerns about China’s economy.  

The benchmark Nikkei 225 index at the Tokyo Stock Exchange gained 230.16 points to 17,449.12, after a six-day losing streak through Tuesday. The Topix index of all first-section shares rose 1.44 per cent, or 20.22 points, to 1,422.17.  

“It’s a relief,” Chihiro Ohta, general manager of investment information at SMBC Nikko Securities, told Bloomberg News. “We’ve fallen six days in a row, and we’re seeing signals flashing that Japanese stocks are falling too quickly. We’re at a level where we can expect a technical rebound.”

On Tuesday, stabilisation in China’s markets, including a firming of the yuan currency, sparked buying both in Europe and on Wall Street, after the worst ever opening week for a new year.  

sentifi.com

Market voices on:

The Dow Jones Industrial Average closed up 0.72 per cent while the broad-market S&P 500 advanced 0.78 and the tech-rich Nasdaq Composite surged 1.03 per cent.  

In Europe, Frankfurt and Paris indices rose 1.6 per cent and 1.5 per cent, respectively, with London not far behind with a gain of 1.0 per cent.  On the forex markets, the dollar was at 117.86 yen in Tokyo on Wednesday morning, up from 117.66 yen in New York on Tuesday. 

The euro fell to US$1.0833 and 127.70 yen from US$1.0858 and 127.76 yen.

AFP

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom