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Tokyo’s Nikkei closes up for sixth straight session

The Bank of Japan will also hold a monetary policy meeting this week.


The Bank of Japan will also hold a monetary policy meeting this week.

  • Tokyo’s benchmark Nikkei index ended higher for a sixth consecutive session on Tuesday.
  • Electronics and gaming sectors were among winners. Nintendo rallied 3.27% with Sony up 1.62%.
  • The Bank of Japan will also hold a monetary policy meeting this week.

Tokyo’s benchmark Nikkei index ended higher for a sixth consecutive session on Tuesday as investors took heart from record closes on Wall Street.

The Nikkei 225 index rose 0.52%, or 154.12 points, to 29,921.09, while the broader Topix index was up 0.65%, or 12.77 points, at 1 981.50.

“Gains in US stocks largely helped sustain market sentiment,” said Yoshihiro Okumura of Chibagin Asset Management.

“But many investors refrained from active buying, awaiting the outcome of a US Federal Reserve meeting,” Okumura told AFP.

“Sentiment remains intact but players are still nervous about US interest rates,” he added.

The US Federal Reserve’s “policy decision and new forecasts… are undoubtedly another factor keeping investors a little bit cautious at the start of the new week,” said Rodrigo Catril, senior strategist at National Australia Bank.

The Bank of Japan will also hold a monetary policy meeting this week.

The dollar fetched 109.19 yen in Asian afternoon trade, against 109.13 yen in New York late Monday.

Electronics and gaming sectors were among winners. Nintendo rallied 3.27% to 63 640 yen with Sony up 1.62% at 11 585 yen.

Travel agency HIS jumped 1.42% to 2 285 yen as investors bought back the company’s shares after it posted a quarterly loss.

Uniqlo casual wear operator Fast Retailing lost 0.20% to 95 190 after reports said its suppliers in Myanmar were hit by an arson attack.


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