Japan Shares End at over 2912Year High

TOKYO, Nov 26 Reuters Japanese shares closed at a more than 29andahalfyear high on Thursday, as tech shares tracked overnight advances on the U.S. Nasdaq, but worries over latest coronavirus restrictions at home hindering economic recovery capped gains.

The Nikkei share average ended up 0.91 at 26,537.31, its highest closing level since April 1991. There were 101 advancers on the index against 118 decliners.

The broader Topix added 0.6 to 1,778.25.

Telecommunications, precision instruments and electric appliances were among the top sectoral performers on the main bourse, up between 1.51 and 1.79.

The market opened on a weak note, but quickly reversed course as techrelated shares advanced and investors snapped up bargains, supported by the techheavy Nasdaq closing 0.47 higher overnight.

Sentiment was also supported by other Asian peers and emini futures, which was last up 0.26, a market participant said.

Video games developer Nintendo was among top 30 core Topix gainers, rising 4.6.

Other tech shares followed suit, with heavyweight SoftBank Group Corp and Tokyo Electron climbing 3.2 and 3.3, respectively.

As part of Japans latest measures to rein in its highest surge in COVID19 infections yet, Tokyo on Wednesday urged restaurants and bars to shorten their operating hours until midDecember and residents to stay indoors as much as possible.

Economy Minister Yasutoshi Nishimura said medical resources in parts of Japan are becoming strained and the next three weeks…

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News