Tokyo Stocks Rebound To End Higher 28th Jan, 2022

Tokyo stocks closed higher on Friday, rebounding from sharp losses in the previous session as investors were cheered by rising US futures

Tokyo, (UrduPoint / Pakistan Point News - 28th Jan, 2022 ) :Tokyo stocks closed higher on Friday, rebounding from sharp losses in the previous session as investors were cheered by rising US futures.

The benchmark Nikkei 225 index jumped 2.09 percent, or 547.04 points, to end at 26,717.34, while the broader Topix index added 1.87 percent, or 34.45 points, to 1,876.89.

The Dollar fetched 115.44 yen, slightly up from 115.36 Yen on Thursday in New York.

US futures also gained during Asian hours, heartening global investors, analysts said.

"With investors encouraged by the fact that US stock futures were rising, the market expanded its gains," Okasan Online Securities said in a note.

Chihiro Ota, general manager for investment research and investor services at SMBC Nikko Securities, told AFP that falls on Thursday, when the Nikkei lost more than three percent, had prompted gains on Friday.

"It was like a bungee cord being pulled low. It was going to jump back up any moment. So the market made a smooth comeback," Ota told AFP.

"Companies that issued strong earnings attracted buying," he added.

Among major shares, SoftBank Group soared 2.19 percent to 4,795 yen after a report said Chief Operating Officer Marcelo Claure could leave the company following disagreements with founder Masayoshi Son over his compensation and responsibilities. His departure was confirmed by the company during the afternoon session.

Toyota jumped 3.42 percent to 2,237 yen. Sony Group spiked 3.95 percent at 12,235 yen.

Industrial robot maker Fanuc added 1.16 percent to 22,670 yen. Uniqlo operator Fast Retailing climbed 3.41 percent to 68,090 yen.