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Tokyo stocks close higher after US gains

Japan's household spending dipped 10.2 percent in September on-year, according to the internal affairs ministry data released before the opening bell.


Japan’s household spending dipped 10.2 percent in September on-year, according to the internal affairs ministry data released before the opening bell.

Tokyo stocks closed higher on Friday, tracking rises in US shares as investors cheered President Joe Biden’s pledge to boost vaccination efforts.

The Nikkei 225 gained 1.56%, or 446.82 points, to end at 29 176.70, while the broader Topix index rose 1.46%, or 28.61 points, to 1 984.16.

The Tokyo market kept up momentum seen in New York, where investors welcomed Biden’s pledge to administer 200 million doses of Covid-19 vaccine in his first 100 days in office – double his earlier target – fuelling hope that the economy may soon regain a sense of normalcy.

“The Nikkei index rose following gains of all three major US indexes,” Okasan Online Securities said.

In Tokyo trading, SoftBank Group grew 1.79% to 9 238 yen while Fast Retailing added 0.88% to 85 650 yen.

Automakers were higher with Toyota jumping 2.47% to 8 359 yen, Honda rising 0.85% to 3 304 yen and Nissan growing 2.29% to 605 yen.

Sony climbed 1.96% to 11 435 yen.

The dollar bought 109.26 yen in Tokyo in the afternoon, compared with 109.23 in New York overnight.

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