Tokyo's Nikkei Index Renews Record High At Close

Sumaira FH Published March 22, 2024 | 11:50 AM

Tokyo, (UrduPoint / Pakistan Point News - 22nd Mar, 2024) Tokyo's key Nikkei index ended at another record on Friday after Wall Street stocks also hit fresh highs on optimism about the US economy and Fed policy.

The benchmark Nikkei 225 index was up 0.18 percent, or 72.77 points, to end at 40,888.43, while the broader Topix index added 0.61 percent, or 17.01 points, to 2,813.22.

The Dollar stood at 151.43 yen, against 151.65 Yen on Thursday in New York.

Overnight in Wall Street, all three major indices climbed to fresh records, led by the Dow Jones Industrial Average, which moved nearer to 40,000 points.

The risk-on sentiment coupled with a weaker yen "reassured investors" in Japan and prompted Nikkei to top 41,000 soon after the market opening, IwaiCosmo Securities said.

But traders "grew vigilant against the market's short-term overheat" and gains struggled to widen, the brokerage said.

On Friday, government data showed Japan's core consumer price index stood at 2.8 percent in February, in line with market expectations and following 2.0 percent inflation in January.

Uniqlo operator Fast Retailing advanced 1.17 percent to 47,410 yen, Toyota climbed 1.92 percent to 3,872 yen and Sony Group was up 0.18 percent to 13,450 yen.

SoftBank Group lost 0.17 percent to 9,247 yen.