Tokyo stocks close up 0.37%

Written by admin on 30/07/2019 Categories: 苏州美睫

Tokyo stocks have risen 0.


37 per cent, bolstered by gains on Wall Street and as dealers locked in dividends before the start of the next tax year in April.

The benchmark Nikkei 225 index added 53.97 points on Wednesday to finish at 14,477.16, while the Topix index of all first-section shares edged up 0.72 per cent, or 8.37 points, to 1,172.07.

Traders were unmoved by news that North Korea had test-fired two ballistic missiles in the morning.

Under the Tokyo Stock Exchange’s settlement rules, March 26 is the last day to secure payouts on stocks for the fiscal year ending on March 31.

The US dollar was at Y102.30 in afternoon trade against Y102.25 in New York Tuesday afternoon.

Overall few investors are willing to take strong positions either way in the market, Yutaka Miura, senior technical analyst at Mizuho Securities, said.

“It’s a seasonal pattern of disinterest. But as far as expectations go for wholly new money flows as the new fiscal year begins (April 1), those hoping for a ‘new atmosphere’ are likely to be disappointed, since there will be a carry-over effect from March.”

Drug stocks, which traditionally sport some of the highest dividend payouts, outperformed.

Ono Pharmaceutical jumped 6.08 per cent to Y9,410 and Astellas Pharma climbed 3.27 per cent to Y5,920.

Cyberdyne – which makes a battery-powered exoskeleton robot suit to help mobility for elderly and disabled people – surged 160 per cent to Y9,600 on its debut as it listed on the Mothers start-up section of the Tokyo Stock Exchange.

The firm, which did not trade in the early session as buy orders overwhelmed sell orders, moved between Y7,950 and Y10,010 in the afternoon.

North Korea test-fired two medium-range missiles early Wednesday, as US President Barack Obama hosted a landmark Japan-South Korea summit and pledged “unwavering commitment” to Tokyo and Seoul in the face of Pyongyang’s nuclear threat.

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