Tokyo Stocks End Higher – UrduPoint

Tokyo, (APP – UrduPoint / Pakistan Point News – 27th Mar, 2024) Tokyo stocks ended higher on Wednesday with investors seeking to secure dividend rights as the current financial year draws to a close.

The benchmark Nikkei 225 index rose 0.90 percent, or 364.70 points, to end at 40,762.73, while the broader Topix index added 0.66 percent, or 18.48 points, to 2,799.28.

The Dollar fetched 151.70 yen, against 151.50 in New York — and after the Japanese Currency hit a 34-year low against the greenback on Wednesday afternoon Japan time.

But the Yen recovered ground after finance ministry comments raised speculation of a government intervention to prop up the currency.

“We’re monitoring market movements with a high sense of urgency.

We will take resolute action against excessive moves, without ruling out any options,” Finance Minister Shunichi Suzuki told reporters.

In Tokyo trading, investors shrugged off moderate falls on Wall Street and continued to look for more reasons to buy, analysts said.

Dividend buyers and others were expected to lift the Nikkei index, according to brokerage house Monex.

Meanwhile, “a rapidly weakening yen also provided momentum for investors to buy Japanese stocks,” Daiwa Securities said.

Among major shares, Uniqlo operator Fast Retailing rose 1.22 percent to 46,930 yen and Toyota edged up 0.07 percent to 3,853 yen while Sony Group added 0.72 percent to 13,205 yen.