Tokyo: Nikkei hits 33 year-high
TOKYO stocks closed higher on Tuesday (Jan 9) on the back of gains in US tech stocks, pushing the Nikkei index to a 33-year high.
The benchmark Nikkei 225 index climbed 1.16 per cent, or 385.76 points, to end at 33,763.18, while the broader Topix index added 0.82 per cent, or 19.55 points, to 2,413.09.
“Buying dominated a wide range of stocks in Tokyo as a series of economic indicators, including the jobs report, raised expectations of a soft landing for the US economy and high-tech shares gained” in New York, Iwai Cosmo Securities said.
The Nikkei climbed to its highest level since March 1990.
Overnight, the tech-rich Nasdaq Composite Index surged 2.2 per cent.
The dollar fetched 143.97 yen in Asian trade, against 144.19 yen in New York late on Monday.
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In Tokyo trading, chip-linked shares were higher with Advantest surging 6.04 per cent to 4,945 yen and Tokyo Electron jumping 3.27 per cent to 24,910 yen.
Sony Group gained 1.29 per cent to 13,340 yen while Nintendo soared 4.36 per cent to 6,538 yen.
Japan’s household spending dropped 2.9 per cent year-on-year in November, the 13th consecutive monthly decline, according to data released by the internal affairs ministry before the opening bell.
The data did not prompt a strong market reaction. AFP
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