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Tokyo stocks end higher on bargain-buying

AFP/APP – Tokyo stocks closed higher on Thursday supported by bargain-hunters after the two previous days saw wild price swings.

The benchmark Nikkei index ended up 1.13 percent, or 245.49 points, at 21,890.96, while the broader Topix index closed 0.90 percent, or 15.78 points, higher at 1,765.69.

The dollar fetched 109.61 yen in Asian trade, up from 109.20 yen in New York.

“Buy orders on dips were seen in afternoon trade,” Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary.

But investors remained cautious after the past two days of volatile trade globally, analysts said.

Nissan was up 1.38 percent at 1,168 yen ahead of its earnings report later Thursday, while rival Toyota rose 2.42 percent to 7,551 yen and Honda advanced 0.85 percent to 5,706 yen.

Mazda ended down 0.09 percent at 1,513 yen after it said it would maintain its full-year profit forecast.

Shiseido jumped 3.97 percent to 5,706 yen after announcing a better-than-expected full-year earnings report.

SoftBank, which on Wednesday said it has started preparations for its mobile unit's initial public offering, ended up 0.97 percent at 8,773 yen.

Posted on: 2018-02-08T12:06:00+05:00
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