TOKYO, Feb 5 (Reuters) - Japanese shares ended more than 1%
higher on Friday, following Wall Street's rally overnight,
driven by upbeat earnings from domestic firms and expectations
of a large U.S. stimulus package.
Nikkei share average .N225 jumped 1.54% to 28,779.19. The
broader Topix .TOPX gained 1.38% at 1,890.95.
The S&P 500 and Nasdaq posted record closing highs
overnight, as Democrats pushed ahead with U.S. President Joe
Biden's proposed $1.9 trillion stimulus plan without bipartisan
support. "A bigger economic stimulus package in the U.S. is good for
the global economy and that optimism is lifting
economic-sensitive shares in Japan," said Masahiro Ichikawa,
chief market strategist at Sumitomo Mitsui DS Asset Management.
Japanese automakers jumped, with Mazda Motor 7261.T
surging 18.52% after cutting its loss forecast, making it the
biggest gainer in the Nikkei index.
Mitsubishi Motor 7211.T jumped 8.13% and Nissan Motor
7201.T gained 7.51%.
NTT Data 9613.T jumped 9.63% after Nomura Securities
raised its target price on the information network builder's
stock.
Railway companies, which are also considered sensitive to
economic news, gained. Central Japan Railway 9022.T rose 5.14%
and West Japan Railway 9021.T increased 6.3%.
Takeda Pharmaceutical 4502.T edged up 0.33% after the drug
maker said its nine-month profit more than doubled from a year
earlier.
Tokyo Rope 5981.T surged 10.13% as the steel maker opposed
a bid by Nippon Steel 5401.T , which is trying to boost its
stake in the smaller affiliate.
Japan Asia Group 3751.T jumped 8.96% after an activist
fund launched a counter bid for the energy and environment firm,
which has agreed to be bought by Carlyle Group CG.O .
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Japanese shares rally on upbeat earnings, U.S. stimulus hopes
Published 05/02/2021, 07:43
Updated 05/02/2021, 07:48
Japanese shares rally on upbeat earnings, U.S. stimulus hopes
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