Tokyo's Nikkei Index Closes Up 3.9%

Tokyo's Nikkei index closes up 3.9%

Tokyo's key Nikkei index closed up nearly four percent on Friday, tracking rallies on Wall Street over a massive US economic relief package

Tokyo, (UrduPoint / Pakistan Point News - 27th Mar, 2020 ) :Tokyo's key Nikkei index closed up nearly four percent on Friday, tracking rallies on Wall Street over a massive US economic relief package.

The benchmark Nikkei 225 index jumped 3.88 percent, or 724.83 points, to end at 19,389.43, while the broader Topix index advanced 4.30 percent, or 60.17 points, to 1,459.49.

The Japanese government's plans to fire additional stimulus to counter the impact from the new coronavirus provided further relief to investors, analysts said added.

The Dollar fetched 108.36 Yen in Asian trade, against 109.44 yen in New York on Thursday.

"There were concerns due to the request to refrain from going out in Tokyo, but shares rose helped by US rallies," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary.

In Tokyo, major shares were higher across the board, with Toyota gaining 4.62 percent to 7,029 yen and Sony 4.50 percent to 6,688 yen.

Uniqlo casual wear operator Fast Retailing rose 1.43 percent to 44,430 yen and chip-making equipment manufacturer Tokyo Electron jumped 5.06 percent to 21,350 yen.

In the US, the Dow surged for a third straight session after the economic relief package cleared the Senate and data showed an unprecedented spike in unemployment claims.

Your Thoughts and Comments