TOKYO: Tokyo’s benchmark Nikkei index closed higher on Thursday with investors emboldened by Wall Street gains and a weaker yen.
The Nikkei 225 climbed 0.69 percent, or 190.30 points, to end at 27,932.20, while the broader Topix index was flat at 1,930.73. The dollar fetched 134.15 yen, against 133.92 yen in New York on Wednesday.
Soon after trading opened in Tokyo, a “risk-taking appetite prevailed”, Okasan Online Securities said.
The market took cues from solid gains on Wall Street, where better-than-expected services industry data helped cheer up investors.
“It also helped that the foreign exchange market took a rapid shift toward the yen’s depreciation,” Okasan added.
Toyota plunged 2.99 percent to close at 2,091.5 yen after the auto giant said first-quarter net profit took a hit from pandemic-related supply chain issues, even while predicting an earnings boost from the weaker yen.
Japanese shares jump most in nearly two weeks on positive earnings
The world’s top-selling automaker now forecasts an annual net profit of 2.36 trillion yen ($17.6 billion) – up from its previous estimate of 2.26 trillion yen.
But its first-quarter net profit slumped 17.9 percent on-year to 736.8 billion yen.
Among other major shares, SoftBank Group climbed 2.62 percent to 5,640 yen and Sony Group edged up 0.21 percent to 11,480 yen.
Uniqlo operator Fast Retailing was up 0.85 percent to 82,510 yen.
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