Home ›› 14 Apr 2022 ›› Stock
Tokyo shares closed higher Wednesday as Asian markets rose and caution receded over aggressive monetary tightening in the United States.
The benchmark Nikkei 225 index jumped 1.93 per cent, or 508.51 points, to end at 26,843.49, while the broader Topix index gained 1.42 per cent, or 26.43 points, to 1,890.06.
"The Nikkei index rebounded after falling more than 600 points since the start of the week," Okasan Online Securities said in a note.
"Growth stocks were bought back as caution about excessive monetary tightening in the US receded," it said.
The yen continued to plunge against the dollar, hitting its lowest level against the greenback in two decades on Wednesday. The dollar fetched 126 yen, up from 125.33 yen in New York late Tuesday.
In Tokyo trading, shipping firms were higher with Nippon Yusen surging 4.82 per cent to 9,120 yen, Kawasaki Kisen jumping 4.23 per cent to 6,890 yen and Mitsui OSK Lines growing 4.04 per cent to 2,930 yen.
Toyota firmed 2.41 per cent to 2,119.5 yen after a report said it had told its main suppliers it planned to reduce production by 10 per cent in May.
Contacted by AFP, a Toyota spokeswoman declined to confirm the report but said: "Due to the ongoing Covid situation and shortage of semiconductors... we have begun to communicate more carefully with our suppliers regarding plans for the next three months."
