Tokyo Stocks Close Higher

Tokyo stocks close higher

Tokyo, (APP - UrduPoint / Pakistan Point News - 18th Jun, 2024) Tokyo stocks closed higher on Tuesday, helped by rallies in other Asian markets.

The benchmark Nikkei 225 index ended up 1.00 percent, or 379.67 points, at 38,482.11, while the broader Topix index added 0.58 percent, or 15.75 points, to 2,715.76.

"The strong performance of Asian bourses provided some support to the Tokyo market, but gains were limited with few other trading cues," Daiwa Securities said.

Rallies in US shares and a rebound in the Paris stock market after a plunge on worries over France's snap election also helped buoy Tokyo shares, but profit-taking capped the upward movement, analysts said.

Overnight in New York, the tech-rich Nasdaq index and the broad-based S&P 500 both hit new records, climbing 1.

0 percent and 0.8 percent, respectively. The Dow rose 0.5 percent.

The Dollar fetched 157.84 Yen against 157.72 yen in New York on Monday.

In Tokyo, tech shares were higher, with chip-linked Tokyo Electron jumping 2.70 percent to 35,000 yen, and industrial robot maker Fanuc adding 0.68 percent to 4,294 yen. Panasonic gained 0.99 percent to 1,272 yen.

Toyota, which held its annual general shareholder meeting on Tuesday and re-elected Akio Toyoda as chairman despite recent scandals related to vehicle tests, climbed 0.53 percent to 3,052 yen. Honda added 1.67 percent to 1,670 yen.

Uniqlo operator Fast Retailing advanced 0.99 percent to 39,850 yen.