TOKYO – Tokyo stocks closed higher today as investors mull the effects of a US$2 trillion (RM8.3 trillion) United States spending plan on the global market and keep an eye on American economic data.
The benchmark Nikkei 225 index rose 0.72%, or 210.07 points, to end at 29,388.87, while the broader Topix index advanced 0.19%, or 3.64 points, to 1,957.64.
“The Nikkei index opened higher following gains on tech shares in the US... but a wait-and-see attitude grew ahead of the announcement on US economic data,” said senior strategist Yoshihiro Ito of Okasan Securities.
On Wall Street, the blue-chip Dow ended lower, but both the S&P 500 and Nasdaq Composite advanced as President Joe Biden unveiled the massive infrastructure spending plan.
Traders are keeping an eye on major US data, including the service sector index by the Institute for Supply Management, unemployment figures and non-farm payrolls.
They also weighed the Bank of Japan’s Tankan business survey, showing optimism among major manufacturers for the first time since the Covid-19 pandemic began.
The quarterly poll of some 10,000 companies showed a reading of 5 among big manufacturers. A positive figure means more manufacturers see business conditions as favourable than those that consider them unfavourable.
In Tokyo trading, Toshiba jumped 4.54% to ¥3,910 (RM146.40) after reports that two US data-storage firms are separately exploring a potential deal for Japanese semiconductor company Kioxia, in which Toshiba holds a stake of around 40%.
SoftBank Group climbed 0.65% to ¥9,391, while Sony rose 0.47% to ¥11,650.
Automakers were lower, with Toyota falling 2.24% to ¥8,423, Honda dipping 0.57% to ¥3,300 and Nissan dropping 4.09% to ¥590.7.
The dollar fetched ¥110.76 in Asian trade, unchanged from the level in New York late yesterday. – AFP, April 1, 2021
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