Tokyo Stocks Close At 26-year High As Yen Eases 16 January
Mohammad Ali (@ChaudhryMAli88) Published January 16, 2018 | 11:55 AM
Tokyo's main stock index closed up at a more than 26-year high on Tuesday as the yen rowed back from its latest rally against the dollar
Tokyo, (UrduPoint / Pakistan Point News - 16th Jan, 2018 ) :Tokyo's main stock index closed up at a more than 26-year high on Tuesday as the Yen rowed back from its latest rally against the dollar. The Nikkei 225 index rose 1.00 percent or 236.93 points to 23,951.81 -- its highest level since November 1991 -- while the broader Topix index was up 0.55 percent or 10.35 points at 1,894.25.
"Sentiment was buoyed as the yen's rise against the Dollar took a breather," Yoshihiro Ito, chief strategist at Okasan Online Securities. The dollar has taken a hit against its main peers in recent weeks, hitting a four-month low against the yen, but it firmed to 110.83 yen Tuesday from 110.56 yen in London on Monday.
The greenback's uptick came on dollar buying by Japanese import companies and after remarks by Finance Minister Taro Aso that sudden moves in Currency rates were a problem, though he made no mention of specific rates.
A lower yen is positive for Japanese exporters as it makes their goods cheaper overseas and inflates their profits when repatriated. Carmakers were largely higher with Toyota closing 1.04 percent higher at 7,733 yen and Nissan up 0.39 percent at 1,154.5 yen.
SoftBank added 1.96 percent to 9,404 yen after rising more than three percent Monday on reports it was considering listing its mobile unit. Precision machinery maker Murata jumped 4.03 percent to 15,990 yen as the Nikkei business daily reported its annual operating profit would surge more than 15 percent.
Related Topics
Recent Stories
Higher taxes, awareness help decrease cigarettes sale in Pakistan
Sindh Minister of Works and Services Ali Hassan Zardari reviews ongoing projects ..
7 ordinances laid in Senate
Implementation of Naan, Roti's revised rates being ensured
Police attack case: ATC discharges PTI leader
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
Allama Iqbal gave Muslim Ummah a new dimension of thinking, hope: Dar
SNGPL takes action against 11 gas pilferers
Five numberdars dismissed in Jhang
Industries Minister recommends urea fertilizer import to stabilize prices and su ..
Honda announces US$11 bn EV battery and vehicle plant in Canada
CM lauds TCF's journey from 5 schools to 2000 across country
More Stories From Business
-
Higher taxes, awareness help decrease cigarettes sale in Pakistan
17 minutes ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
21 minutes ago -
Industries Minister recommends urea fertilizer import to stabilize prices and supply
21 minutes ago -
Honda announces US$11 bn EV battery and vehicle plant in Canada
21 minutes ago -
Zhao Shirin calls on Punjab Industries Minister
49 minutes ago -
CEO APM Terminals calls on Finance Minister
53 minutes ago
-
SACM visits GTVC checks attendance register
58 minutes ago -
CEO APM Terminals meets Commerce Minister
58 minutes ago -
RTO destroys huge quantity of non-duty paid cigarettes
2 hours ago -
Pakistan's total liquid foreign reserves reach $ 13.28 billion
1 hour ago -
RDA inflows rise to $7.660 bn in March 24
1 hour ago -
FPCCI welcomes direct flights between Pakistan-Azerbaijan
1 hour ago