TOKYO: Tokyo shares ended higher Wednesday after rebounding from initial losses, bucking a drop on Wall Street.
The benchmark Nikkei 225 index added 0.29 percent, or 97.69 points, to end at 33,451.83, while the broader Topix index gained 0.44 percent, or 10.40 points, to 2,378.19.
The dollar stood at 148.90 yen, compared with 148.33 yen in New York. The Nikkei started lower after US shares fell as the latest Federal Reserve minutes suggested interest rates could stay high for a while.
Despite the early morning losses, the Nikkei quickly rebounded as investors searched for shares overlooked in recent market gains, Nomura Securities said.
Adding to the upward momentum was a humanitarian truce between Israel and Hamas in Gaza that was announced on Wednesday, according to Daiwa Securities. “A brake on the rapid shift toward the yen’s appreciation is also bolstering the market,” the brokerage added.
Among major shares in Tokyo, Sony Group gained 0.93 percent to 13,015 yen, and Uniqlo operator Fast Retailing rallied 1.25 percent to 37,010 yen. SoftBank Group, meanwhile, trimmed 0.27 percent to 6,198 yen, and Toyota dropped 0.23 percent to 2,728.5 yen.
Comments
Comments are closed for this article.