Tokyo Stocks Edge Higher After Wild Trading

TOKYO, , (UrduPoint / Pakistan Point News - 11th Nov, 2016 ) - Tokyo stocks edged higher Friday after two days of wild trading that followed Donald Trump's surprise win in the US presidential election.

After his victory over market-favourite rival Hillary Clinton, investors are now banking on business-friendly policies and measures to boost the US economy, a key driver of world growth, while a rise in the Dollar against the Yen lifted Japanese exporters.

"We've got through the biggest cause of uncertainty, the US presidential race, and Congress is controlled by business-friendly Republicans," Juichi Wako, a senior strategist at Nomura Holdings, told Bloomberg news.

The benchmark Nikkei 225 index -- which rallied almost seven percent on Thursday after initially sinking on Trump's victory -- added 0.18 percent, or 30.37 points, to end at 17,374.79. Over the week, it rose 2.78 percent.

The broader Topix index of all first section issues was up 0.14 percent, or 1.93 points, to 1,378.28. The index gained 2.32 percent this week. "Prospects of greater US fiscal spending (infrastructure and tax cuts) under a Trump presidency continue to buoy equity markets," National Australia Bank economist Tapas Strickland said in a commentary.