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Tokyo: Stocks rally as Uniqlo operator soars on price-cut news
[TOKYO] Tokyo stocks rallied on Wednesday as Uniqlo operator Fast Retailing, a market heavyweight, surged after its billionaire chairman said the clothing chain would roll back price hikes that dented sales.
The benchmark Nikkei 225 index at the Tokyo Stock Exchange soared 2.84 per cent, or 452.43 points, to close at 16,381.22, while the broader Topix index of all first-section shares advanced 2.55 per cent, or 33.09 points, to 1,332.44.