AVN 65.45 Increased By ▲ 0.50 (0.77%)
BAFL 30.65 Decreased By ▼ -0.86 (-2.73%)
BOP 4.83 Increased By ▲ 0.04 (0.84%)
CNERGY 3.72 Decreased By ▼ -0.12 (-3.13%)
DFML 14.26 Decreased By ▼ -0.15 (-1.04%)
DGKC 41.06 Decreased By ▼ -0.54 (-1.3%)
EPCL 46.56 Decreased By ▼ -0.14 (-0.3%)
FCCL 11.35 Increased By ▲ 0.06 (0.53%)
FFL 5.03 Decreased By ▼ -0.02 (-0.4%)
FLYNG 5.78 Decreased By ▼ -0.04 (-0.69%)
GGL 10.28 Decreased By ▼ -0.17 (-1.63%)
HUBC 67.03 Increased By ▲ 1.39 (2.12%)
HUMNL 5.68 Increased By ▲ 0.02 (0.35%)
KAPCO 27.85 Increased By ▲ 0.10 (0.36%)
KEL 2.19 Increased By ▲ 0.04 (1.86%)
LOTCHEM 24.83 Increased By ▲ 0.48 (1.97%)
MLCF 21.37 Decreased By ▼ -0.11 (-0.51%)
NETSOL 84.20 Decreased By ▼ -0.59 (-0.7%)
OGDC 85.94 Decreased By ▼ -1.31 (-1.5%)
PAEL 11.01 Increased By ▲ 0.03 (0.27%)
PIBTL 4.17 Decreased By ▼ -0.05 (-1.18%)
PPL 74.56 Decreased By ▼ -1.14 (-1.51%)
PRL 13.40 Decreased By ▼ -0.25 (-1.83%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 40.44 Decreased By ▼ -0.89 (-2.15%)
TELE 5.86 Increased By ▲ 0.01 (0.17%)
TPLP 15.42 Decreased By ▼ -0.22 (-1.41%)
TRG 111.63 Decreased By ▼ -0.07 (-0.06%)
UNITY 13.76 Decreased By ▼ -0.22 (-1.57%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,037 Decreased By -26.9 (-0.66%)
BR30 14,412 Decreased By -56.6 (-0.39%)
KSE100 40,471 Decreased By -262.4 (-0.64%)
KSE30 15,163 Decreased By -67.2 (-0.44%)
Follow us

TOKYO: Japanese shares closed higher on Wednesday, as an overnight Wall Street rally improved risk appetite, prompting investors to scoop up stocks that were sold off last month as well as those with robust outlook.

The Nikkei share average gained 1.68% to end at 27,533.60, while the broader Topix advanced 2.14% to 1,936.56.

All three Wall Street benchmarks advanced overnight, as investors digested strong earnings from big-name U.S. companies against mixed economic data and inflation worries.

“Investors realised that they were too risk sensitive and bought back stocks that were oversold,” said Ikuo Mitsui, fund manager at Aizawa Securities.

“Also, investors have become more responsive to positive news so they bought stocks with robust earnings. But the market has risen to the level where investors may turn cautious and start selling.”

Keyence jumped 6.18%, after the electronic application equipment maker posted a record operating profit for nine months through December.

Sony Group rose 4.93% ahead of its earnings report after the market close, while chip-related stocks Tokyo Electron and Shin-Etsu Chemical rose 2.04% and 4.45%, respectively.

Airlines jumped 4.99%, leading gains among the exchange’s 33 industry subindexes. ANA Holdings rose 6.21%, after the airliner surprised with a small third-quarter operating profit.

Isetan Mitsukoshi Holdings rose 5.52%, as the department store operator raised its annual net profit outlook.

Aisin rose 4% as the supplier of Toyota Motor said its nine-month net profit more than doubled.

Another Toyota supplier Denso snapped early gains to end 0.91% lower after it cut its annual operating profit forecast.

Comments

Comments are closed.

Japanese shares rise as overnight Wall Street rally boosts bargain hunting

Dar hits out at Imran Khan’s ‘irresponsible tweet’ about current govt

Alluding to PTI, PM asks where Rs417bn spent?

Govt says ‘will have to’ agree to IMF conditions

PTI chief won’t attend APC: Umar

US allows seized Russian money to go to Ukraine aid: report

Industry yet to export any amount of sugar

RDA: pace of growth slightly lower

‘Rules’ allow banks to seek asset details of civil servants

Likely output dip in Feb, Mar: Indus Motor offering full refund with interest to customers

Imran steps up criticism of PDM govt