Japan Nikkei extends gain ahead of vaccine rollout

Japan shares extended upward journey on Tuesday, 16 February 2021, sending the benchmark Nikkei stock index to a fresh 30-year high, as sentiment was robust due to hopes for a global recovery from the coronavirus crisis, weaker US dollar against greenback, and Japan's first vaccine rollout.

At closing bell, the 225-issue Nikkei Stock Average advanced 383.60 points, or 1.28%, to 30,467.75, its highest closing level since 01 August 1990. The broader Topix index of all First Section issues on the Tokyo Stock Exchange increased 11.14 points, or 0.57%, to 1,965.08.

Heavily weighted components of the Nikkei average jumped, with Fast Retailing rising 3.06% and SoftBank Group gaining 4.2%. Shipping issues such as Mitsui O.S.K. Lines and Kawasaki Kisen were upbeat as well. Other winners included semiconductor-related firms such as Tokyo Electron and Advantest. On the other hand, Dentsu shed 3.6% after the advertising company logged a greater-than-expected operating loss for the year ending in December.

 

CURRENCY NEWS: The Japanese yen traded at 105.51 per dollar after weakening yesterday from levels below 105.2 against the greenback.

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