TOKYO: Japan shares held close to a 29-1/2-year high on Thursday as major countries moved closer to rolling out coronavirus vaccines, while hopes of more stimulus also boosted sentiment. The Nikkei 225 Index ended up a modest 0.03% at 26,809.37, but settled near its highest since April 1991, while the broader Topix rose 0.07% to 1,775.25.
Real estate, consumer cyclicals, industrial companies, and financials rose in a sign that investors are betting on sectors that will benefit most from a revival in economic growth. The Nikkei has rallied 17% since the end of October on vaccine-related developments and more supportive policies from a Biden administration, but some analysts warned Japanese stocks may be overheating.
The stocks that gained the most on Thursday among the top 30 core Topix names were Central Japan Railway Co up 2.55%, followed by Mitsui & Co Ltd rising 2.13%. The underperformers among the Topix 30 were Hoya Corp down 4.26%, followed by Daiichi Sankyo Co Ltd losing 3.89%.
There were 126 advancers on the Nikkei index against 97 decliners. The volume of shares traded on the Tokyo Stock Exchange's main board was 1.23 billion, compared to the average of 1.3 billion in the past 30 days.
Comments
Comments are closed.