Tokyo stocks close higher on hopes for full economic restart

18:56, June 01, 2020

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  Tokyo stocks close higher on hopes for full economic restart

  XinhuaTOKYO, May 25 (Xinhua) -- Tokyo stocks closed higher Monday on hopes that Japans economy will be fully reopened as the government is poised to lift the remaining coronavirus-related state of emergency in Tokyo and nearby regions.The 225-issue Nikkei Stock Average gained 353.49 points, or 1.73 percent, from Friday to close the day at 20,741.65.The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 24.40 points, or 1.65 percent, to finish at 1,502.20.Stocks recovered lost ground after retreating over the past two trading days, as investors risk appetite returned on expectations the governments lifting of the state of emergency for Tokyo and four other prefectures would lead to a significant rise in economic activity.The greater Tokyo area accounts for a significant percentage of Japans overall population and hence consumption, so eased restrictions on business activities and peoples movements amid a decline in coronavirus cases is a clear boon for Japans recession-hit economy, market analysts here said."The greater Tokyo area has 30 percent of Japans population and likely accounts for about half of its personal consumption, so opening it up will clearly help the economy. It is a bit earlier than expected and the opening is quite broad," John Vail, chief global strategist at Nikko Asset Management, was quoted as saying.Local brokers, meanwhile, said that cyclical issues like steelmakers and shipping lines found favor on hopes for Japans economic restart, while air transportation issues also rallied on expectations the easing of the virus emergency would see more domestic demand in the short term.As such, Nippon Steel added 2.7 percent, while Kobe Steel climbed 3.5 percent. JFE Holdings, for its part, ended the day 4.0 percent higher.Rising shipping stocks included Mitsui O.S.K. Lines advancing 3.5 percent and Kawasaki Kisen gaining 1.9 percent.Japan Airlines surged ...

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  Tokyo stocks advance in morning on hopes for full economic restart

  TOKYO, May 25 (Xinhua) -- Tokyo stocks advanced Monday morning on hopes Japans economy will be fully reopened as the government prepares to lift a state of emergency still in place for Tokyo and surrounding regions.File photo: AFPThe 225-issue Nikkei Stock Average added 294.62 points, or 1.45 percent, from Friday to 20,682.78.The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, rose 18.52 points, or 1.25 percent, at 1,496.32.Air transportation, real estate, and iron and steel issues comprised those that gained the most by the morning break.

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  Tokyo stocks close higher on hopes for reopening economy

  File photo: APTokyo stocks soared Thursday on optimism over the gradual reopening of virus-hit economies worldwide.The benchmark Nikkei 225 index ended up 2.32 percent, or 497.08 points, at 21,916.31, while the broader Topix index was up 1.80 percent, or 27.87 points, at 1,577.34.