Tokyo Stocks Rebound After US Records
Muhammad Irfan Published March 29, 2024 | 08:50 AM
Tokyo, (APP - UrduPoint / Pakistan Point News - 29th Mar, 2024) Tokyo markets opened higher on Friday after the Dow and S&P 500 closed at new record highs on Wall Street.
The benchmark Nikkei 225 index added 0.48 percent, or 193.04 points, to 40,361.11 in early trade, while the broader Topix index rose 0.58 percent, or 16.03 points, to 2,766.84.
"Tokyo shares are expected to start strong after the Dow and the S&P 500 hit all-time highs," brokerage house Monex said.
"In this environment, a key point will be to see if the Nikkei can move even higher after a round of buying in the morning."
Investors were optimistic that the Tokyo bourse could extend recent surges in the coming days, Nomura Securities said.
"We are seeing high hopes for semiconductor shares on the back of AI-driven demand," it said.
"There are also hopes for value shares as the Tokyo Stock Exchange drives corporate governance reforms.
Investors are expecting further gains in Tokyo."
Among major shares, Toyota rose 0.18 percent to 3,813 Yen and Fast Retailing climbed 1.33 percent to 47,330 yen.
Semiconductor shares also firmed. Tokyo Electron gained 0.10 percent to 39,300 yen and Advantest added 0.24 percent to 6,711.
Video game giant Sega Sammy soared 8.01 percent to 2,016 yen after announcing 240 further job cuts in Europe to increase its profitability in the region.
Many stock markets around Asia, including Hong Kong, were closed for Good Friday.
Among those trading, Seoul was up 0.2 percent, while Taipei gained 0.5 percent.
The Dollar stood at 151.42 yen, nearly flat from 151.39 yen in New York.
The euro was little changed against the dollar at $1.0783, while the pound stood at $1.2628, compared to $1.2619 in New York.
Related Topics
Recent Stories
SIC chief asks PTI leaders to resign from assemblies
Pakistan working tirelessly to eradicate polio from country: PM
IHC Justice Sattar dismisses pleas moved by FIA, PEMRA and PTA in audio leaks ca ..
Gillespie, Kirsten feature in 48th edition of PCB Podcast
Security forces kill four terrorists in Tank
Fake immoral video of Ducky Bhai's wife goes on viral on social media
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 April 2024
Today Gold Rate in Pakistan 29 April 2024
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 April 2024
Today Gold Rate in Pakistan 28 April 2024
Fresh wave of rainfall in AJK continues for the second consecutive day
Babar, bowlers help Pakistan level series 2-2 against New Zealand
More Stories From World
-
President Xi to visit France, Serbia, Hungary from May 5
2 minutes ago -
Burkina Faso suspends more foreign news media over massacre reports
2 minutes ago -
With motorbikes banned, Yangon delivery riders struggle in heatwave
12 minutes ago -
England stars Kane and Bellingham headline Bayern-Real Madrid battle
12 minutes ago -
Kenya dam bursts, killing at least 42: governor
12 minutes ago -
China's energy storage capacity expands to support low-carbon goals
31 minutes ago
-
China's giant panda couple set off for Spain
31 minutes ago -
China renews yellow alert for rainstorms
31 minutes ago -
Scotland's first minister to resign: media
31 minutes ago -
South Africa's Ramaphosa fights for political future in tight vote
31 minutes ago -
Xi, Macron to discuss Ukraine during China leader's visit
32 minutes ago -
China expresses grave concerns over Japan's planned export controls
32 minutes ago