Tuesday, 02 January 2024 12:17 GMT

Tokyo Stocks Close Thursday with Gains


(MENAFN) Japan's equity markets surged Thursday, buoyed by currency weakness and positive momentum from overnight U.S. trading as investors broadened their exposure across sectors. The milestone-focused Nikkei Stock Average gained ground, climbing 218.52 points to reach 51,281.83, representing a 0.43 percent advance in the benchmark's 225-issue composition.

The momentum intensified around midday when confirmation arrived that the U.S. government shutdown had concluded—a factor already reflected in pricing yet still welcomed by traders executing fresh purchases. Currency dynamics proved instrumental throughout the session, with the yen sliding toward the 155 yen-per-dollar threshold, creating favorable conditions for export-dependent manufacturers including Toyota.

The broader measure of Japanese equities demonstrated sustained strength, with the Topix extending its winning streak to four consecutive trading sessions. The index advanced 22.39 points, or 0.67 percent, to establish a record closing level of 3,381.72, signaling robust investor appetite.

Trading data on the Tokyo Stock Exchange's Prime market underscored the rally's breadth: 952 securities posted gains against 604 declining issues, with 56 remaining flat.

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