AGL 38.45 Decreased By ▼ -0.03 (-0.08%)
AIRLINK 197.36 Decreased By ▼ -5.66 (-2.79%)
BOP 10.10 Decreased By ▼ -0.07 (-0.69%)
CNERGY 6.34 Decreased By ▼ -0.20 (-3.06%)
DCL 9.49 Decreased By ▼ -0.09 (-0.94%)
DFML 39.40 Decreased By ▼ -0.62 (-1.55%)
DGKC 98.34 Increased By ▲ 0.26 (0.27%)
FCCL 35.51 Increased By ▲ 0.55 (1.57%)
FFBL 86.90 Increased By ▲ 0.47 (0.54%)
FFL 13.69 Decreased By ▼ -0.21 (-1.51%)
HUBC 130.60 Decreased By ▼ -0.97 (-0.74%)
HUMNL 13.95 Decreased By ▼ -0.07 (-0.5%)
KEL 5.35 Decreased By ▼ -0.26 (-4.63%)
KOSM 7.44 Increased By ▲ 0.17 (2.34%)
MLCF 45.60 Increased By ▲ 0.01 (0.02%)
NBP 61.50 Decreased By ▼ -4.88 (-7.35%)
OGDC 216.05 Decreased By ▼ -4.71 (-2.13%)
PAEL 39.39 Increased By ▲ 0.91 (2.36%)
PIBTL 8.54 Decreased By ▼ -0.37 (-4.15%)
PPL 194.79 Decreased By ▼ -3.09 (-1.56%)
PRL 39.30 Increased By ▲ 0.27 (0.69%)
PTC 26.10 Increased By ▲ 0.63 (2.47%)
SEARL 104.31 Increased By ▲ 1.26 (1.22%)
TELE 8.73 Decreased By ▼ -0.29 (-3.22%)
TOMCL 36.30 Decreased By ▼ -0.11 (-0.3%)
TPLP 13.88 Increased By ▲ 0.13 (0.95%)
TREET 24.90 Decreased By ▼ -0.22 (-0.88%)
TRG 56.90 Decreased By ▼ -1.14 (-1.96%)
UNITY 33.25 Decreased By ▼ -0.42 (-1.25%)
WTL 1.64 Decreased By ▼ -0.07 (-4.09%)
BR100 11,779 Decreased By -110.9 (-0.93%)
BR30 36,773 Decreased By -583.7 (-1.56%)
KSE100 109,956 Decreased By -1114.5 (-1%)
KSE30 34,585 Decreased By -323.8 (-0.93%)

TOKYO: Tokyo stocks closed higher for a fifth straight day on Thursday, with investors taking heart from recent rallies while awaiting a key US jobs report at the end of the week.

The benchmark Nikkei 225 index rose 0.63 percent, or 178.96 points, to end at 28,623.15, while the broader Topix index gained 0.97 percent, or 19.88 points, to 2,071.09.

“Caution about further acceleration of rate hikes spread against the backdrop of a tight US job market,” IwaiCosmo Securities said. “But the Tokyo market was buoyed following the strong performance of US high-tech stocks, especially chip-related shares,” the brokerage added.

Wall Street stocks were mixed overnight as markets weighed recession fears while a Federal Reserve report said inflation was persisting.

On Tuesday, Fed chair Jerome Powell triggered a sell-off by saying the “ultimate level of interest rates is likely to be higher than previously anticipated”.

In his subsequent address to US lawmakers on Wednesday, he said officials would look at all the available data before making a decision.

Traders are now awaiting the release of crucial US non-farm payrolls figures Friday, which will provide the latest snapshot of the world’s number one economy. Analysts said a forecast-beating number could put pressure on the Fed to ramp up rates at its next meeting.

The dollar stood at 136.68 yen, against 137.43 yen in New York on Wednesday.

Nikkei hits 3-1/2-month high on weaker yen, China optimism

Shortly before the opening bell, revised government data showed Japan’s economy did not grow in October-December, coming in at 0.0 percent, against a preliminary reading of a 0.2 percent expansion.

In Tokyo trading, industrial robot maker Fanuc gained 1.07 percent to 24,475 yen and Tokyo Electron, which makes tools to build semiconductors, jumped 1.24 percent to 48,640 yen.

Toyota added 0.62 percent to 1,919.5 yen while Honda grew 0.96 percent to 3,668 yen.

Comments

Comments are closed.