Tokyo: Nikkei hits 26-year high; Fast Retailing top contributor
[TOKYO] Japan's Nikkei share average hit a 26-year high on Tuesday, helped by gains on Wall Street during a Japanese holiday, while index heavyweight Fast Retailing soared on strong December sales.
The Nikkei ended 0.6 per cent higher at 23,849.99, the highest closing level since November 1991. Japanese markets were closed on Monday for a national holiday.
Fast Retailing Co rose 1.2 per cent after the clothing company said on Friday that same-store sales at its Uniqlo clothing outlets in Japan rose 18.1 per cent in December on the year. Fast Retailing added 20 points to the Nikkei index and was the biggest contributor.
Chip-making equipment manufacturers and electronic components makers outperformed, with Tokyo Electron rising 1.7 per cent and TDK Corp adding 0.9 per cent.
The broader Topix ended 0.5 per cent higher at 1,889.29, its highest closing level since June 1991.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
Europe: Stocks retreat on earnings gloom, weak US economic data