Tokyo’s Nikkei closes up more than 2.3%

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Tokyo

Tokyo’s benchmark Nikkei index jumped more than 2.3 percent Friday, extending Wall Street rallies with investors bullish despite the virus state of emergency declared in and around the Japanese capital. The Nikkei 225 gained 2.36 percent, or 648.90 points, to close at 28,139.03 — another 30-year high — while the broader Topix index rose 1.57 percent, or 28.64 points, to 1,854.94. Tokyo shares gained ground from the outset after Wall Street surged to fresh records on Thursday as the Democrats secured a slim majority in Congress following the Georgia runoff elections. “With the election result, (President-elect Joe) Biden will push through more stimulus,” said Shinichi Yamamoto, a broker at Okasan Securities in Tokyo. “Tokyo stocks are rising quite fast but we don’t feel the market is overheating,” Yamamoto told AFP. “Of course, the market will face profit-taking from now, but sentiment is expected to remain brisk.” On Thursday, the Japanese government declared a month-long coronavirus state of emergency in the greater Tokyo area as the capital reported another record surge in daily infections.—AFP