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Markets

Tokyo shares close higher ahead of US data

Published September 1, 2023 Updated September 1, 2023 12:39pm
By

TOKYO: Tokyo shares closed higher for a fifth straight day on Friday, while investors awaited key US jobs data.

The benchmark Nikkei 225 index added 0.28 percent, or 91.28 points, to end at 32,710.62, while the broader Topix index climbed 0.76 percent, or 17.75 points, to 2,349.75.

“The Tokyo market opened lower after mixed US stocks, but it later moved into a positive territory,” Iwai Cosmo Securities said in a note.

The local market was buoyed by gains for the mining, steel and banking industries, it added.

Investors were awaiting the release of US employment data, due later in the day.

The dollar traded at 145.57 yen against 145.49 yen in New York on Thursday.

In Tokyo trading, Kobe Steel surged 3.88 percent to 1,901 yen and Nippon Steel jumped 1.71 percent to 3,506 yen.

The Nikkei business daily reported that Kobe Steel has developed new steel sheets for electric cars.

Sony Group soared 3.21 percent to 12,535 yen while Toyota rose 0.17 percent to 2,519.5 yen.

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