Japan’s Nikkei ends at one-week high

09 Sep, 2022

TOKYO: Japan’s Nikkei share average ended at a one-week high on Thursday, tracking Wall Street’s overnight strong finish, while the yen falling against the dollar raised hopes for better outlook for domestic companies.

The Nikkei jumped 2.31% to 28,065.28, its highest closing level since Aug. 31. The index marked its biggest daily gain in four weeks.

The broader Topix ended a six-session losing streak, jumping 2.19% to 1,957.62.

The dollar hovered near a two-decade high on Thursday, after surging to a 24-year peak against the yen overnight, as Japan’s dovish monetary policy contrasted with a hawkish Federal Reserve.

Uniqlo clothing shop owner Fast Retailing rose 3.33% and gave the biggest boost to the Nikkei, followed by chip making equipment maker Tokyo Electron gaining 2.17%.

Air-conditioning maker Daikin Industries rose 3.61% and technology investor SoftBank Group gained 2.44%.

Read Comments