Buoyed By Tech Issues, Tokyo Stocks End Higher
Tokyo stocks ended higher Friday, lifted by buying in technology issues following overnight rises in US shares, although gains were limited ahead of a speech by Federal Reserve Chairman Jerome Powell later in the day, Mainichi Japan reported on Aug. 27, 2022.
Photo Insert: Japanese stocks were in positive territory throughout the day as investors snapped up technology shares following sharp rises in the US Nasdaq index.
The 225-issue Nikkei Stock Average ended up 162.37 points, or 0.57 percent, from Thursday at 28,641.38. The broader Topix index finished 2.99 points, or 0.15 percent, higher at 1,979.59. On the top-tier Prime Market, gainers were led by machinery, electric appliance, and textile issues.
The US dollar rose to around the 137 yen line, with market participants adopting a wait-and-see stance before Powell's speech at the annual global central banking conference in Jackson Hole, Wyoming, dealers said.
At 5 p.m., the dollar fetched 137.01-04 yen compared with 136.43-53 yen in New York and 136.47-50 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $0.9973-9975 and 136.65-69 yen against $0.9967-9977 and 136.06-16 yen in New York and $0.9999-1.0000 and 136.47-51 yen in Tokyo late Thursday afternoon.
The yield on the bellwether 10-year Japanese government bond fell 0.010 percentage point from Thursday's close to 0.215 percent, inheriting the downward trend from an overnight decline in long-term US Treasury yields.
Japanese stocks were in positive territory throughout the day as investors snapped up technology shares following sharp rises in the US Nasdaq index, analysts said, Kyodo News also reported.