Tokyo stocks close higher with eyes on earnings

News24
26 Jan 2021, 20:12 GMT+10

Tokyo stocks ended higher Monday after a mixed close on Wall Street last week, as investors shifted their focus to Japan's corporate earnings season.

The benchmark Nikkei 225 index climbed 0.67%, or 190.84 points, to 28 822.29, while the broader Topix index advanced 0.29%, or 5.36 points, to 1 862.00.

Investors are "increasingly taking a wait-and-see attitude due to uncertainties over the new US stimulus and ahead of Japan's corporate earnings season", Mizuho Securities said.

The dollar fetched 103.71 yen in Asian trade, against 103.79 yen in New York late Friday.

In Tokyo, Toshiba sky-rocketed 16.77% to 3 460 yen after confirming its return to the prestigious first section of the Tokyo Stock Exchange.

Takeda Pharmaceutical rallied 3.54% to 3 714 yen after four days of declines on profit-taking.

Steel manufacturer Tokyo Tekko was down 2.46% at 2 024 after it cut its full-year profit forecast by 34% to 3.7 billion yen.

Tech components producer Nidec was up 0.85% at 14 320 yen. After the market close, the firm said it had revised up operating, pre-tax and net profit forecasts for the year to March - now expecting a net profit of 120 billion yen ($1.2 billion) against 105 billion yen in the previous forecast.

Source: News24

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.

More Information

25 ℃

Mostly Cloudy in Seletar

Business

Section

Volvo said all car purchases to be only online

GOTHENBURG, Sweden: Volvo targets to only manufacture electric cars by 2030 by significantly increasing the size of its U.S. South ...

Confident of safety measures, Apple reopens all retail stores

CUPERTINO, California: Apple announced on Monday that all 270 of its store locations in the U.S. have officially opened for ...

Zoom revenues surge in 2020 to $882.5 million as people work from home

Zoom Video Communications' fourth-quarter results trumped forecasts of moderate growth following its meteoric rise in 2020, with revenues surging 369 ...

On strength of data, Indian PM Modi takes Bharat Biotech vaccination

BENGALORE, India: The Covid vaccine manufactured by Bharat Biotech has been found to be 81 percent effective, in an analysis ...

Wall Street rescues world from stocks sell-off

NEW YORK, New York - U.S. stocks rallied on Friday following the release of positive economic data.U.S. employers added 379,000 ...

Disney+ streaming service reports 98 million subscribers

Subscriptions to Walt Disney Company's Disney+ streaming service surpassed initial estimates, primarily owing to adults from households with no children ...

Engineering

Section