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Markets

Tokyo stocks close higher

  • In Tokyo trading, Uniqlo casual wear operator Fast Retailing climbed 0.52 percent to 88,030 yen while Nintendo gained 1.10 percent to 67,490 yen.
Published May 26, 2021

TOKYO: Tokyo stocks closed higher for a fifth consecutive session on Wednesday, helped by gains on Chinese shares and recovering from early trading jitters.

The benchmark Nikkei 225 index rose 0.31 percent or 88.21 points to end at 28,642.19, while the broader Topix index inched up 0.06 percent or 1.15 points to 1,920.67.

"The Nikkei index opened lower after falls on three major US indexes but it bounced back on bargain-hunting," Online Okasan Securities said in a note.

Investors were also eyeing media reports about government plans to extend a virus state of emergency, Okasan said.

A state of emergency is currently in place in Tokyo and nine other regions until the end of May. Reports suggest it could be extended until June 20.

Investors are awaiting data including the US ISM manufacturing due next week, analysts said.

In Tokyo trading, Uniqlo casual wear operator Fast Retailing climbed 0.52 percent to 88,030 yen while Nintendo gained 1.10 percent to 67,490 yen.

SoftBank Group lost 1.02 percent to 8,274 yen while Sony fell 0.51 percent to 10,700 yen.

Toyota advanced 0.32 percent to 8,906 yen while Honda slid 0.99 percent to 3,297 yen. Nissan dropped 1.01 percent to 527 yen.

The dollar fetched 108.81 yen in Asian trade, against 108.76 yen in New York late Tuesday.

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