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Markets Print edition: 2020-07-07

Nikkei stays up

Published Updated
By

TOKYO: Tokyo's benchmark Nikkei index rose for a third consecutive session on Monday as rallies in Asian shares offset concerns for a continued rebound in global coronavirus infections.

The Nikkei 225 index jumped 1.83 percent, or 407.96 points, to close at 22,714.44, while the broader Topix index was up 1.60 percent, or 24.82 points, at 1,577.15.

Among major shares, telecom and investment giant SoftBank Group jumped 2.42 percent to 5,918 yen as Toyota added 1.44 percent to 6,859 yen with Sony up 0.91 percent at 7,580 yen.

"Rallies in Asia greatly helped sustain sentiment" depressed by coronavirus concerns, said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

Deadly floods and landslides hit western Japan during the weekend, but "the market largely shrugged off the impact", Horiuchi told AFP.

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