Mon, 08 Mar 2021

Tokyo shares rise on Chinese data, US stimulus hope

14 Jan 2021, 18:13 GMT+10

Tokyo stocks ended higher Thursday on strong Chinese trade data and hopes for fresh US stimulus under the incoming administration.

The benchmark Nikkei 225 added 0.85%, or 241.67 points, to 28 698.26, while the broader Topix index rose 0.48%, or 8.88 points, to 1 873.28.

"The market was supported by positive Chinese trade data," Okasan Online Securities said, after official figures showed China's trade surplus hit a record in December due to brisk exports.

"The Nikkei index advanced further following reports that the next US administration under Biden will launch additional stimulus worth $2 trillion," it added.

The dollar fetched 104.05 yen in Asian trade, against 103.82 yen in New York.

Among major shares in Tokyo, Uniqlo operator Fast Retailing rallied 1.66% to 93 660 yen, industrial robot maker Fanuc ended up 2.22% at 27 675 yen, and Sony was up 0.47% at 10 750 yen.

Among pharmaceuticals, Chugai ended down 0.60% at 5 802 yen and Shionogi was down 0.75% at 5 841 yen after brokerage firms downgraded their evaluation of its shares.

Source: News24

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