BUSINESS Tokyo's Nikkei closes up after spring holidays

BUSINESS

Tokyo's Nikkei closes up after spring holidays

AFP

14:47, May 07, 2020

Tokyo's benchmark Nikkei index closed marginally higher on Thursday after a three-day public holiday, as major countries move to reopen their economies hit by the coronavirus pandemic.

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File photo

The benchmark Nikkei 225 index rose 0.28 percent, or 55.42 points, to 19,674.77, but the broader Topix index lost 0.32 percent, or 4.53 points, to 1,426.73.

"Investors are welcoming major countries moving to reopen their economies following their lockdown," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"But market sentiment won't fully recover unless we see a clearer sign of an exit from the outbreak," Horiuchi told AFP.

Tokyo shares opened lower following the "Golden Week" spring holidays, tracking recent declines on Wall Street caused by weak economic data. 

Wall Street stocks finished a choppy session mostly lower Wednesday as oil prices fell and fresh US labour data showed another spike in joblessness.

The dollar fetched 106.26 yen in Asian afternoon trade, against 106.09 yen in New York late Wednesday.

In Tokyo, Nintendo jumped 3.24 percent to 46,100 yen ahead of its full-year earnings report due later Thursday.

Industrial robot maker Fanuc gained 0.69 percent to 17,280 yen but Sony lost 0.20 percent to 6,792 yen, with Uniqlo casual wear operator Fast Retailing off 0.61 percent at 50,270 yen.

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