Japan’s Shares Rise as US Tech Gains, Weak Yen Bolster Exporters
Japanese shares are rebounding Tuesday, as gains in US technology shares on expectations of a Federal Reserve interest rate cut and a weakening yen supported export-related stocks such as electronics firms and automakers.
The Topix Index rose 0.6% to 2,753.57 as of 9:35 a.m. Tokyo time.
The Nikkei advanced 0.6% to 39,709.40.
Hitachi Ltd. contributed the most to the Topix Index gain, increasing 2.4%. Out of 2,126 stocks in the index, 1,129 rose and 825 fell, while 172 were unchanged.
Real estate shares are also advancing on expectations Japan’s economy will expand next year.
SoftBank Group shares climbed as much as 4%, their biggest gain since Nov. 25, after President-elect Donald Trump announced that the Japanese technology investor planned to invest $100 billion in the US over the next four years.
Overall trading in the Japanese market will likely be restrained though ahead of monetary policy decisions in Japan and the US later this week.
Source : Bloomberg
