TOKYO, Sept 19 — Tokyo's benchmark Nikkei index surged to the highest level in nearly eight months today, with investor sentiment buoyed by gains on Wall Street and a cheaper yen.
The Nikkei 225 index gained 1.08 per cent, or 251.98 points, to 23,672.52, rising for the fourth straight session. The broader Topix was up 1.46 per cent, or 25.78 points, at 1,785.66.
“Sentiment remained strong as investors welcomed rises in US stocks and the yen's drop,” said Hikaru Sato, senior technical analyst at Daiwa Securities.
“But they will continue paying attention to trade negotiations,” Sato told AFP.
Prices barely moved after the Bank of Japan kept its accommodative policy in place after it wrapped up a two-day policy meeting.
Global stock markets took the latest escalation in the trade war between the United States and China in their stride yesterday.
China announced tariffs on US goods worth US$60 billion (RM248.2 billion) in retaliation to President Donald Trump's decision to slap duties on US$200 billion in Chinese products next week.
The US dollar was changing hands at 112.32 yen, hardly changed from 112.33 yen in New York yesterday afternoon but up from the 111-yen levels seen for most of yesterday in Tokyo.
The weaker yen lifted Japanese exporters as Honda jumped 3.01 per cent to 3,383 yen (RM125) with Toyota up 0.84 per cent at 7,019 yen.
Industrial robot maker Fanuc rose 1.81 per cent to 22,170 yen. — AFP
