Tokyo Shares Close Higher After Holiday

Faizan Hashmi Published July 19, 2022 | 12:50 PM

Tokyo, (UrduPoint / Pakistan Point News - 19th Jul, 2022 ) :Tokyo stocks closed higher for a fourth straight session on Tuesday after a three-day weekend, with investors encouraged by Wall Street rallies last week.

The benchmark Nikkei 225 index was up 0.65 percent, or 173.21 points, to end at 26,961.68, while the broader Topix index rose 0.54 percent, or 10.29 points, to 1,902.79.

Following US gains on Friday, "the Tokyo market kept its appetite for risk after the three-day weekend", Okasan Online Securities said.

The Dollar fetched 138.04 Yen in Asian trade, against 138.13 yen in New York late Monday.

Shipping companies were higher, with Kawasaki Kisen Kaisha surging 7.34 percent to 8,620 yen, Mitsui OSK Lines jumping 3.91 percent to 3,320 yen and Nippon Yusen gaining 3.46 percent to 9,860 yen.

Uniqlo operator Fast Retailing gained 1.71 percent to 77,540 yen while Sony Group climbed 2.32 percent to 11,465 yen.

SoftBank Group rose 1.41 percent to 5,371 yen after the Financial Times reported that the investment giant has put plans for a London initial public offering of microchip powerhouse Arm on hold because of political turmoil in Britain.