TOKYO – Tokyo shares opened markedly higher today after US President Donald Trump said he no longer opposes government aid for Joe Biden’s transition team, with markets also buoyed by new vaccine news.
The Nikkei 225 index rose 1.91%, or 486.82 points, to 26,014.19 in early trade, playing catch-up after a long weekend with surges in other markets. The broader Topix index added 2.00%, or 34.51 points, to 1,761.90.
Shortly before the opening bell here, Trump tweeted that the General Services Administration should start releasing federal funds and resources to start a transition, ending major uncertainty, although he has yet to concede defeat in the election.
“Nevertheless, in the best interest of our Country, I am recommending that (GSA administrator) Emily (Murphy) and her team do what needs to be done with regard to initial protocols, and have told my team to do the same,” he tweeted.
The Tokyo market was already gearing up for a strong open as it returned to action after a three-day weekend, during which international markets surged on positive news about vaccines.
International investors have cheered news that British drugs group AstraZeneca and Oxford University will seek regulatory approval for their Covid-19 vaccine, following similar announcements by Pfizer and BioNTech, and Moderna. – AFP, November 24, 2020
