TOKYO – Tokyo’s benchmark Nikkei index ended higher for a sixth consecutive session today as investors took heart from record closes on Wall Street.
The Nikkei 225 index rose 0.52%, or 154.12 points, to 29,921.09, while the broader Topix index was up 0.65%, or 12.77 points, at 1,981.50.
“Gains in US stocks largely helped sustain market sentiment,” Yoshihiro Okumura of Chibagin Asset Management told AFP.
“But, many investors refrained from active buying, awaiting the outcome of a US Federal Reserve meeting.
“Sentiment remains intact, but players are still nervous about US interest rates.”
The Fed’s “policy decision and new forecasts... are undoubtedly another factor keeping investors a little bit cautious at the start of the new week”, said Rodrigo Catril, senior strategist at National Australia Bank.
The Bank of Japan will also hold a monetary policy meeting this week.
The dollar fetched ¥109.19 (RM4.11) in Asian afternoon trade, against ¥109.13 in New York late yesterday.
The electronics and gaming sectors are among the winners. Nintendo rallied 3.27% to ¥63,640, with Sony up 1.62% at ¥11,585.
Travel agency HIS jumped 1.42% to ¥2,285 as investors bought back the company’s shares after it posted a quarterly loss.
Uniqlo casual wear operator Fast Retailing lost 0.20% to 95,190 after reports said its suppliers in Myanmar have been hit by an arson attack. – AFP, March 16, 2021
