Tokyo stocks jump on weak yen, gains on Wall Street

News Image

MG News | February 19, 2018 at 01:26 PM GMT+05:00

0:00

Tokyo's benchmark index surged nearly two percent on Monday, buoyed by investor relief over a weaker yen and continued gains on Wall Street last week.

The bellwether Nikkei 225 index rose 1.97 percent or 428.96 points to close at 22,149.21, while the broader Topix index was up 2.17 percent or 37.78 points at 1,775.15.

"Investors were relieved to see the yen stop rising," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"They will remain cautious about foreign exchange rates for the time being" as the dollar was still hovering around the 106 yen level, Horiuchi told AFP.

The dollar, which fell below 106 to hit the lowest since November 2016 against the yen on Friday, rebounded to 106.52, compared with 106.25 in New York late Friday.

Market sentiment was also boosted by gains on Wall Street as the Dow finished narrowly positive, up 0.1 percent to 25.219,38, before a long weekend.

Despite the muted finale, the week was the sixth straight positive close for the blue-chip index as it notched its best weekly gain since November 2016.

"Japanese stocks this week will likely test a rebound" from sharp drops earlier in the month, Okasan Online Securities said in a note.

"Given falling volatility both in Japan and in the United States, we can expect a calm market," it said.

Toyota soared 2.37 percent to 7,379 yen and Nintendo was up 2.07 percent at 46,790 yen.

Banks were also higher, with Mizuho up 2.21 percent at 202.8 yen and Mitsubishi UFJ up 2.20 percent at 793.6 yen.

SoftBank Group climbed 2.19 percent to 8,999 yen after the Financial Times reported the Japanese telecom and investment group was seeking to join Swiss Re's board as it is in talks with the reinsurance giant to acquire a minority stake – APP/AFP

*The story was updated.

Related News

Name Price/Vol %Chg/NChg
KSE100 136,502.54
259.91M
1.64%
2202.77
ALLSHR 85,079.90
838.35M
1.26%
1061.74
KSE30 41,552.62
97.27M
1.81%
738.33
KMI30 193,330.76
84.69M
0.39%
741.60
KMIALLSHR 56,315.31
366.02M
0.43%
243.06
BKTi 38,498.08
37.91M
4.13%
1526.33
OGTi 28,138.38
5.66M
-0.36%
-101.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 120,600.00 123,615.00
118,675.00
2070.00
1.75%
BRENT CRUDE 69.14 71.53
69.08
-1.22
-1.73%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 106.60
106.50
-2.20
-2.02%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.92 69.65
66.84
-1.53
-2.24%
SUGAR #11 WORLD 16.31 16.67
16.27
-0.26
-1.57%

Chart of the Day


Latest News
July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency


July 14, 2025 at 04:23 PM GMT+05:00

PSX Closing Bell: Another One Bites the High


July 14, 2025 at 04:06 PM GMT+05:00

PKR falls 25 paisa per USD



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg