AFP, Tokyo :
Tokyo stocks ended higher on Wednesday as investors welcomed dovish comments on monetary policy from Federal Reserve boss Jerome Powell. The benchmark Nikkei 225 index added 0.50 percent, or 107.12 points, to 21,556.51, while the broader Topix index was up 0.20 percent, or 3.22 points, at 1,620.42.
Gains in regional shares, notably in Chinese and Hong Kong markets, also brightened the sentiment.
“Continued optimism for the improvement of the (overseas) environment put Tokyo shares in higher ranges,” Okasan Online Securities said in a commentary.
Investors were comforted by how Powell’s appearance in front of US lawmakers in Washington ended without a hitch, it said. Bargain-hunting from the previous day’s losses began earlier in the day, helping to create the market’s upward momentum.
But a lack of fresh news stopped the Nikkei from soaring further in the
afternoon session, when other regional shares also began to trim earlier
gains, the brokerage said.
“The market stayed on a solid footing, but attempts were limited to test
the upper resistance amid a dearth of fresh incentives,” Okasan said.
The dollar stood at 110.51 yen, against 110.58 yen in New York on Tuesday,
when Wall Street finished slightly lower.
In Tokyo, Uniqlo operator Fast Retailing jumped 2.67 percent to 52,250 yen,
while Sony added 0.96 percent to 5,382 yen. Nintendo rose 2.82 percent to
31,330 yen.
But SoftBank Group dipped 0.19 percent to 10,305 yen and Toyota lost 0.22
percent to 6,780 yen.
Tokyo stocks ended higher on Wednesday as investors welcomed dovish comments on monetary policy from Federal Reserve boss Jerome Powell. The benchmark Nikkei 225 index added 0.50 percent, or 107.12 points, to 21,556.51, while the broader Topix index was up 0.20 percent, or 3.22 points, at 1,620.42.
Gains in regional shares, notably in Chinese and Hong Kong markets, also brightened the sentiment.
“Continued optimism for the improvement of the (overseas) environment put Tokyo shares in higher ranges,” Okasan Online Securities said in a commentary.
Investors were comforted by how Powell’s appearance in front of US lawmakers in Washington ended without a hitch, it said. Bargain-hunting from the previous day’s losses began earlier in the day, helping to create the market’s upward momentum.
But a lack of fresh news stopped the Nikkei from soaring further in the
afternoon session, when other regional shares also began to trim earlier
gains, the brokerage said.
“The market stayed on a solid footing, but attempts were limited to test
the upper resistance amid a dearth of fresh incentives,” Okasan said.
The dollar stood at 110.51 yen, against 110.58 yen in New York on Tuesday,
when Wall Street finished slightly lower.
In Tokyo, Uniqlo operator Fast Retailing jumped 2.67 percent to 52,250 yen,
while Sony added 0.96 percent to 5,382 yen. Nintendo rose 2.82 percent to
31,330 yen.
But SoftBank Group dipped 0.19 percent to 10,305 yen and Toyota lost 0.22
percent to 6,780 yen.
