Tokyo shares show increases on Wednesday’s session end
Date
7/10/2024 5:27:27 AM
(MENAFN) Wednesday saw Tokyo's stock market surging to new heights, with both the Nikkei as well as Topix indexes reaching unprecedented levels, fueled by a positive economic outlook. The Nikkei Stock Average, Japan's leading market gauge, closed the day up 251.82 points, or 0.61 percent, to settle at 41,831.99. At the same time, the broader Topix index also saw gains, a rise of 13.65 points, or 0.47 percent, to finish at 2,909.20.
Market analysts pointed out that the upward trajectory of Japanese stocks could continue, driven by expectations of stronger-than-expected corporate earnings in the upcoming April-June quarter. With earnings announcements set to commence later this month, many companies are anticipated to report robust performances, prompting speculation that they may revise their full-year earnings forecasts upwards during their mid-year disclosures.
This surge in optimism stems from widespread confidence in the resilience and profitability of Japanese businesses across various sectors. As companies prepare to unveil their financial results, there is growing anticipation that their strong quarterly performances are going to translate into revised and more bullish outlooks for the remainder of the fiscal year. This sentiment points out the current bullish sentiment in Tokyo's equity markets, suggesting continued momentum in the weeks ahead.
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