News

Tokyo shares close higher on massive US stimulus

April 10, 2020 01:08 PM


Twitter Share Facebook Share WhatsApp Share

Tokyo stocks closed higher on Friday, extending rallies on Wall Street after the US Federal Reserve unveiled another round of massive stimulus.

The Nikkei 225 index rose 0.79 percent, or 152.73 points, to 19,498.50 while the broader Topix index gained 0.92 percent, or 13.06 points, to 1,430.04.

The Nikkei opened higher, taking a positive lead from Wall Street, where stocks advanced after the Federal Reserve unveiled new stimulus that offset news of another huge spike in jobless claims.

"Sentiment was backed by the Fed's easing in the morning and the Bank of Japan's ETF (exchange traded funds) in the afternoon," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"But active buying can't be seen as investors remain nervous about the increasing number of virus infections in Japan," Horiuchi told AFP.

The dollar fetched 108.37 yen in Asian afternoon trade, against 108.47 yen in New York.

Mutsumi Kagawa, chief global strategist at Rakuten Securities, said the market remains in a "tug-of-war between those who are pessimistic (about the virus pandemic) and those who are optimistic,... who think they don't want to miss a rare chance to buy" shares at cheap prices.

In Tokyo, Uniqlo casual wear operator Fast Retailing rallied 2.64 percent to 48,190 yen despite its announcement revising down profit forecast for the year to August.

Fujifilm rose 2.49 percent to 5,459 yen on hopes for the clinical trials of its anti-flu drug Avigan for coronavirus patients.

Other major shares were mixed, with Toyota slipping 0.67 percent to 6,635 yen and Sony down 0.61 percent at 6,670 yen, but Nintendo jumped 1.46 percent to 44,370 yen.

https://www.youtube.com/watch?v=pOavNaBX4NU


Most Read

  1. Maryam Nawaz can wear uniform! Maryam Nawaz can wear uniform!
  2. Here is all about Madiha Rizvi’s second husband Here is all about Madiha Rizvi’s second husband
  3. Madiha Rizvi ties the knot again Madiha Rizvi ties the knot again
  4. Zara Noor Abbas inspired by Rani Mukerji Zara Noor Abbas inspired by Rani Mukerji
  5. Humayun Saeed and Saboor Aly under fire for close interaction in public Humayun Saeed and Saboor Aly under fire for close interaction in public
  6. Two patients die, injuries of 12 others multiplied after roof collapse at Gujrat hospital Two patients die, injuries of 12 others multiplied after roof collapse at Gujrat hospital

Opinion

  1. Legacy of Indian military subjugation in Kashmir
    Legacy of Indian military subjugation in Kashmir

    By Dr Ghulam Nabi Fai

  2. Islamabad becoming the hub of international diplomacy
    Islamabad becoming the hub of international diplomacy

    By Salim Bokhari

  3. Insights into the Pakistan Stock Exchange's Recent Record High Triumph
    Insights into the Pakistan Stock Exchange's Recent Record High Triumph

    By Zulfiqar Ali Mir

  4. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  5. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  6. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay