Tokyo shares rise on Chinese data, US stimulus hope

TOKYO: 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 percent, or 241.67 points, to 28,698.26, while the broader Topix index rose 0.48 percent, 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 percent to 93,660 yen, industrial robot maker Fanuc ended up 2.22 percent at 27,675 yen, and Sony was up 0.47 percent at 10,750 yen.

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