TOKYO, Feb 25 (Reuters) - Japanese stocks jumped on
Thursday, as investors scooped up shares after Federal Reserve
Chair Jerome Powell eased inflation concerns while boosting Wall
Street shares.
The Nikkei share average .N225 gained 1.67% to 30,167.24
by 0148 GMT, rebounding from Wednesday's close below the
30,000-mark. The broader Topix .TOPX rose 1.43% to 1,930.41.
Powell told lawmakers on Wednesday it may take more than
three years to reach the central bank's inflation goals, a sign
the Fed plans leave interest rates unchanged for a long time to
come. On Wall Street, all three main indexes ended higher, on
track to post strong monthly gains, with the Dow and the S&P 500
set for their best month since November. .N
"Powell's comments have given a big impact on the Japanese
stock market as well," said Takatoshi Itoshima, strategist at
Pictet Asset Management.
"And we can say even if the market falls one day, it can
rebound easily the next day. That's how strong the fundamental
is."
SoftBank Group 9984.T , up 0.17%, was the biggest
contributor to the Nikkei's gain, followed by clothing shop
Uniqlo operator Fast Retailing 9983.T , which rose 1.78%.
Chip-related shares jumped, with Tokyo Electron 8035.T
rising 2.44% and Fanuc 6954.T adding 4.66%. TDK 6762.T
gained 2.23%.
Suzuki Motor 7269.T dragged down the index by falling 3.4%
after the automaker's 91-year old chairman, Osamu Suzuki,
announced his retirement in June. His announcement came less than a week after rival Honda
Motor 7267.T appointed a new CEO. Honda shares rose 2.01%.
The largest percentage gainers on the Nikkei were Nikon
7731.T , which rose 6.05%, followed by Sumco 3436.T gaining
5.31 %.
There were 196 advancers on the index against 27 decliners.
All but one of the 33 sector sub-indexes on the exchange
traded higher.
- English (USA)
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Japanese shares jump as Fed chair's view eases inflation fears
Published 25/02/2021, 03:32
Updated 25/02/2021, 03:36
Japanese shares jump as Fed chair's view eases inflation fears
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.