TOKYO – Japan’s benchmark Nikkei index climbed to a new 30-year high today, tracking Wall Street gains on hopes for additional stimulus.
The Nikkei 225 index gained 0.40%, or 117.43 points, to close at 29,505.93, while the broader Topix index advanced 0.08%, or 1.59 points, to 1,925.54.
“The Nikkei index struggled to grow after investors became cautious about overheating, but it steadily hovered around the 29,500 level,” said Okasan Online Securities.
Analysts said hopes for further United States economic stimulus and the positive effects of Japan’s own virus rescue package supported the market, as well as progress on vaccine roll-outs.
Japan hopes to begin vaccinating selected healthcare workers against Covid-19 next week.
In Tokyo trading, SoftBank Group jumped 3.40% to ¥9,808 (RM379.79) after it said net profit rocketed to US$11.1 billion (RM45 billion) in the third quarter, as stock rallies and asset sales helped solidify its recovery.
Renesas rallied 1.74% to ¥1,224 after it confirmed late yesterday that it will acquire German-British competitor Dialog, a semiconductor specialist and Apple supplier, in a US$5.9 billion deal.
Uniqlo casual wear operator Fast Retailing climbed 1.60% to ¥95,130, while Sony dropped 2.23% to ¥11,825.
Honda fell 1.19% to ¥2,977 before the company announced it is upgrading its full-year net profit forecast to ¥465 billion.
Nissan was flat at ¥629.5 ahead of the release of its financial results later today, while Toyota, whose results are due tomorrow, dipped 0.53% to ¥7,994.
The dollar fetched ¥104.87 in Asian trade, against ¥105.22 in New York. – AFP, February 9, 2021
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