Tokyo stocks close higher on US rallies, cheap yen

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Tokyo stocks closed higher on Tuesday as investors took heart from US rallies and a cheaper yen .
Tokyo stocks closed higher on Tuesday as investors took heart from US rallies and a cheaper yen .
Photography by ZhangXun
  • Tokyo stocks closed higher on Tuesday as investors took heart from US rallies and a cheaper yen.
  • The benchmark Nikkei 225 index ended up 0.97% at 28 362.17 while the broader Topix index edged up 0.94%.
  • "Rallies in US stocks and a cheap yen against the dollar supported the Japanese market," Okasan Online Securities said.


Tokyo stocks closed higher on Tuesday as investors took heart from US rallies and a cheaper yen while keeping their focus on earnings reports.

The benchmark Nikkei 225 index ended up 0.97% or 271.12 points at 28 362.17 while the broader Topix index edged up 0.94% or 17.18 points to close at 1 847.02.

"Rallies in US stocks and a cheap yen against the dollar supported the Japanese market," Okasan Online Securities said.

The dollar fetched 104.98 yen, against 104.94 yen in New York and 104.68 yen in Tokyo late Monday.

Nintendo was down 0.38% at 62 400 yen on profit-taking after it said net profit nearly doubled in the nine months to December and hiked its full-year forecast as new virus lockdowns drive demand.

Japan Airlines rebounded 2.20% to 1 905 yen, having started in negative territory following its announcement that it was forecasting a larger-than-expected annual net loss of nearly $2.9 billion, as the aviation industry struggles with the fallout of the pandemic.

Panasonic rallied 3.14% to 1 381.5 yen, while Sumitomo Mitsui Financial was down 0.57% at 3 296 yen ahead of their earnings reports due after market close.

After trading hours, Panasonic said it revised up its full-year to March net profit forecast to 150 billion yen ($1.4 billion) from 100 billion yen in the previous estimate.

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