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Markets

Tokyo shares rebound on US gains despite Ukraine invasion

Published Updated
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TOKYO: Tokyo stocks closed higher on Friday, rebounding from losses in previous sessions and following gains on Wall Street, despite Russia's invasion of Ukraine.

The benchmark Nikkei 225 climbed 1.95 percent or 505.68 points to 26,476.50, while the broader Topix index added 1.00 percent or 18.66 points to 1,876.24.

The dollar stood at 115.21 yen in Asian trade, against 115.49 yen on Thursday in New York.

Russian President Vladimir Putin unleashed a full-scale ground invasion and air assault on Thursday, with deadly battles reaching the outskirts of Kyiv.

Tokyo shares end lower on Ukraine crisis

Sanctions enacted by Washington and its allies -- which sought to cripple Russia's financial and technology sectors -- were strict but fell short of even tougher measures expected by some observers, prompting rallies on Wall Street.

In Japan, tech and semiconductor-related shares advanced, following overnight gains of their rivals on Wall Street, where the tech-rich Nasdaq index closed up 3.3 percent.

"Sharp gains of the Nasdaq prompted buybacks" of a variety of shares, Okasan Online Securities said.

"Buying continued in the afternoon, prompting (the Nikkei) to advance on a solid path until the closing bell."

Among major shares in Tokyo, tech investment giant SoftBank Group soared 5.56 percent to 5,069 yen.

Tokyo Electron, which makes tools to produce semiconductors, jumped 5.79 percent to 56,600 yen. Industrial robot maker Fanuc rose 4.05 percent to 21,075 yen.

Sony Group rose 3.10 percent to 11,810 yen, and Toyota added 0.62 percent to 2,104 yen. Uniqlo operator Fast Retailing rose 1.33 percent to 61,750 yen.

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