Tokyo Stocks Close Tuesday in Positive Territory
(MENAFN) Tokyo shares closed higher on Tuesday, extending their rally on the back of strong overnight gains on Wall Street and easing domestic political uncertainty, though profit-taking late in the session trimmed earlier advances.
The Nikkei 225, Japan’s key stock benchmark, added 130.56 points, or 0.27%, to finish at 49,316.06, edging closer to the symbolic 50,000-point milestone.
Investor sentiment was lifted after the Dow Jones Industrial Average surged 515 points, or 1.11%, to close at 46,706, setting a positive tone for Japanese equities at the opening bell.
Hopes for a more supportive economic stance under newly elected Prime Minister Sanae Takaichi also provided a boost. Markets have been increasingly pricing in expansionary fiscal and monetary policy under her leadership.
However, after Takaichi’s election was officially confirmed in the afternoon, the Nikkei gave up a portion of its gains as some short-term investors opted to secure profits.
The broader Topix index posted a modest rise, closing 1.05 points higher, or 0.03%, at 3,249.50.
On the Tokyo Stock Exchange Prime Section, 751 stocks advanced, 799 declined, and 65 were unchanged.
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