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Tokyo: Stocks close up on US-China trade thaw

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Tokyo stocks closed higher on Thursday, reflecting investor confidence in the global economy after the recent US-China trade thaw.

[TOKYO] Tokyo stocks closed higher on Thursday, reflecting investor confidence in the global economy after the recent US-China trade thaw.

The benchmark Nikkei 225 index rose 0.60 per cent, or 142.05 points, to 23,924.92, while the broader Topix index gained 0.57 per cent, or 9.78 points, to 1,731.20.

"Investor sentiment towards the global economy is improving," said Rakuten Securities chief strategist Masayuki Kubota.

"Given the truce in the US-China trade row, there are rising hopes for a recovery in corporate capital spending that has been held back amid the US-China tensions."

Trading was thin as a number of investors were on the sidelines ahead of New Year holidays, dealers said.

The dollar was trading at 109.54 yen on Thursday afternoon, up from 109.36 yen the previous day.

Nissan recouped some ground after plunging more than three per cent on Wednesday on news that its number three executive has decided to quit just weeks after taking the job.

The car giant was up 0.36 per cent at 635.4 yen.

Other carmakers were also firm on a stable yen, with Toyota up 0.63 per cent at 7,725 yen and Honda up 0.96 per cent at 3,142 yen.

AFP