Tokyo Shares End Higher On Strong China Data 17 April 2019
Umer Jamshaid 2 days ago Wed 17th April 2019 | 12:21 PM
Tokyo stocks ended higher on Wednesday as investors cheered strong Chinese data, following overnight rallies on Wall Street
Marking a five-day winning streak, the benchmark Nikkei 225 index added 0.25 percent or 56.31 points at 22,277.97, while the broader Topix index ended up 0.26 percent or 4.22 points at 1,630.68.
The Nikkei started the day higher but soon dipped into negative territory as investors searched for fresh cues.
But the index rebounded by late morning as investors cheered fresh Chinese indicators that confirmed, as expected, Asia's top economy grew 6.4 percent during the January-March quarter compared to a year ago.
"Once the bright Chinese indicators came out, bargain hunters came in and lifted the Nikkei to the day's high" of 22,345.19, Okasan Online Securities said in a commentary.
Even after five days of gains, the market is not showing a sense of overheating," Okasan added.
Toyota surged 2.02 percent to 6,953 yen, while Honda added 1.02 percent to 3,170 yen.
Sony gained 0.17 percent to 5,363 yen. Nintendo rose 1.07 percent to 34,830 yen.
Uniqlo operator Fast Retailing rose 0.92 percent to 62,400 yen.
Advantest, which makes chip-testing tools, jumped 5.48 percent to 3,270.