Tokyo Stocks Close Higher On Bargain-hunting

Faizan Hashmi Published February 01, 2021 | 12:00 PM

Tokyo, Feb 1 (UrduPoint / Pakistan Point News - 1st Feb, 2021 ) :Tokyo stocks closed higher on Monday as investors bought on dips following recent declines, with investors focusing on corporate earnings reports.

The benchmark Nikkei 225 index rose 1.55 percent, or 427.66 points, to 28,091.05, while the broader Topix index was up 1.16 percent, or 21.06 points, at 1,829.84.

"Investors bought back shares following two days of decline," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"Trading may be range-bound for now as investors are paying attention to earnings," Horiuchi told AFP.

The Dollar fetched 104.

68 Yen in Asian afternoon trade, against 104.72 yen in New York.

ANA Holdings edged up 0.04 percent to 2,221 yen after it reported a third-quarter operating loss that was smaller than market expectations.

Its rival Japan Airlines also inched up 0.05 percent to 1,864 yen. After the closing bell, the firm said it logged a 212 billion yen net loss for the nine months to December and downgraded its full-year forecasts.

Nintendo jumped 3.40 percent to 62,640 yen ahead of its earnings report due after market close.

Sony gained 1.04 percent to 10,155 yen but Toyota lost 0.08 percent to 7,294 yen.