Japanese Stocks Rise on Strong Trade Data
The Nikkei 225 index rose 0.1%, above 38,440, while the broader Topix index rose 0.3% to 2,718 on Wednesday, extending gains from the previous session as investors reacted positively to stronger-than-expected trade data.
The latest figures showed Japanese exports rose 3.1% in October, reversing a 1.7% decline in September and beating forecasts for a 2.2% increase. Imports also grew 0.4%, defying expectations for a 0.4% decline.
Japanese stocks were further supported by a strong lead on Wall Street, with Nvidia’s rally ahead of its earnings report lifting market sentiment.
However, investors remained cautious amid the escalating Russia-Ukraine war. In corporate news, shares of Seven & I Holdings jumped 10%, following a report that its founding family plans to raise more than 8 trillion yen to take the company private by the end of this financial year.
Source: Trading Economics