Tokyo, Sep 27 (IANS) Tokyo stocks continued their upward trend on Friday as the country’s ruling party held an election for a new leader to succeed outgoing Fumio Kishida.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, jumped 2.32 per cent, or 903.93 points, to close at 39,829.56, marking the first time in almost two months to surpass the 39,000 threshold, Xinhua news agency reported.
Lawmakers from Japan’s ruling Liberal Democratic Party (LDP) started voting for a new leader on Friday afternoon and the market has betted on female hopeful Economic Security Minister Sanae Takaichi to win, expecting her to adopt pro-growth economic policies if chosen.
The voting results came after the market closed, with former Defense Minister Shigeru Ishiba elected the party chief in a runoff against Takaichi.
The yen’s depreciation, dropping to the 146-yen range against the US dollar, attracted foreign speculative buyers to Nikkei futures, further bolstering the market. Export-related stocks saw significant gains due to the weaker yen.
The broader Topix index also rose on Friday, closing 19.82 points higher, or 0.73 per cent, at 2,740.94.
On the top-tier Prime Market, declining issues outnumbered advancers by 928 to 642, with 31 issues remaining unchanged.
–IANS
int/psd/dan
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
