Tokyo shares close higher on Chinese data, US stimulus hope

The benchmark Nikkei 225 added 0.85 per cent, or 241.67 points, to 28,698.26, while the broader Topix index rose 0.48 per cent, or 8.88 points, to 1,873.28. — Reuters pic
The benchmark Nikkei 225 added 0.85 per cent, or 241.67 points, to 28,698.26, while the broader Topix index rose 0.48 per cent, or 8.88 points, to 1,873.28. — Reuters pic

TOKYO, Jan 14 ― Tokyo stocks ended higher today on strong Chinese trade data and hopes for fresh US stimulus under the incoming administration.

The benchmark Nikkei 225 added 0.85 per cent, or 241.67 points, to 28,698.26, while the broader Topix index rose 0.48 per cent, or 8.88 points, to 1,873.28.

“The market was supported by positive Chinese trade data,” Okasan Online Securities said, after official figures showed China's trade surplus hit a record in December due to brisk exports.

“The Nikkei index advanced further following reports that the next US administration under Biden will launch additional stimulus worth US$2 trillion,” it added.

The dollar fetched ¥104.05 (RM4.04) in Asian trade, against ¥103.82 in New York.

Among major shares in Tokyo, Uniqlo operator Fast Retailing rallied 1.66 per cent to ¥93,660, industrial robot maker Fanuc ended up 2.22 per cent at ¥27,675, and Sony was up 0.47 per cent at ¥10,750.

Among pharmaceuticals, Chugai ended down 0.60 per cent at ¥5,802 and Shionogi was down 0.75 per cent at ¥5,841 after brokerage firms downgraded their evaluation of its shares. ― AFP

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