Tokyo's Nikkei closes higher, recovering early losses

The Nikkei 225 index rose 0.34 per cent, or 97.76 points, to 28,958.56, but the broader Topix index edged down 0.02 per cent, or 0.41 points, to 1,956.73. ― Reuters pic
The Nikkei 225 index rose 0.34 per cent, or 97.76 points, to 28,958.56, but the broader Topix index edged down 0.02 per cent, or 0.41 points, to 1,956.73. ― Reuters pic

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TOKYO, June 10 ― Tokyo's benchmark Nikkei index recovered early losses and closed higher today on tech rallies, with sentiment sustained by the acceleration of Japan's vaccination drive.

The Nikkei 225 index rose 0.34 per cent, or 97.76 points, to 28,958.56, but the broader Topix index edged down 0.02 per cent, or 0.41 points, to 1,956.73.

“Tech shares led today's gains,” Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP. “The acceleration of vaccine delivery also supported buying sentiment.”

Investors' focus was shifting to the key US consumer price index and a European Central Bank meeting, brokers said.

“The ECB is likely in no rush to deliver a taper message,” Tapas Strickland, senior analyst at National Australia Bank, said in a commentary.

“The key question is whether the ECB provides guidance on the pace of (asset) purchases” in the third quarter, he added.

The dollar fetched ¥109.53 (RM4.12)in Asian afternoon trade against ¥109.63 in New York late Wednesday.

Industrial robot maker Fanuc jumped 1.75 per cent to ¥26,390 with chip-testing equipment manufacturer Tokyo Electron up 1.60 per cent at ¥47,570.

Pharmaceutical firm Eisai dropped 7.01 per cent to ¥10,000 on profit-taking after double-digit rises following the US approval of the Alzheimer's drug it developed with Biogen.

Kewpie was up 1.09 per cent to ¥2,577 after a report said the Japanese mayonnaise maker has developed a vegan version of scrambled eggs that are made of soy beans. ― AFP

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