tokyo stocks head for longest string of gains in 30 years
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Tokyo stocks head for longest string of gains in 30 years

Arab Today, arab today

Arab Today, arab today Tokyo stocks head for longest string of gains in 30 years

Markets have been encouraged by polls showing Japanese Prime Minister Shinzo Abe
Tokyo - AFP

Tokyo stocks rose Thursday morning with the benchmark index headed for its longest string of gains in nearly 30 years, as the focus turns to this weekend's election in the world's third-largest economy.

The Nikkei 225 was up 0.66 percent or 140.80 points, to sit at 21,503.85 by the lunch break, putting it on track for a 13th winning session in what would be its longest consecutive run of gains since early 1988.

Tokyo's broader Topix index tacked on 0.52 percent, or 8.99 points, at 1,733.63.

Investors have been generally upbeat on the state of the global economy with fresh record closes on Wall Street also supplying an upbeat lead for the Japanese market.

Markets have been encouraged by polls showing Japanese Prime Minister Shinzo Abe is heading for a clear victory in Sunday's election, meaning a continuation of his "Abenomics" growth strategy.

"I really think people have underestimated things," said Andrew Clarke, director of trading at Mirabaud Asia in Hong Kong.

"It's been very fashionable over the years to dismiss Japan and the equity market, and for the most part you would have been right, but this time I am not so sure," he told Bloomberg News.

The Nikkei was below 10,000 when Abe came to power in late 2012.

But it still remains far below a record close of almost 39,000 in the last days of 1989 before a stock and property market bubble collapsed. The index then began a long descent as the once red-hot Japanese economy fell into years of malaise. 

On Thursday, Nintendo shares rose 1.30 percent to 43,480 yen and Nissan was up 0.82 percent at 1,096.5 yen, boosted by a cheaper yen. 

Banks were also higher, with Mitsubishi UFJ Financial Group rising 1.55 percent to 737.2 yen and rival Sumitomo Mitsui gaining 1.09 percent to end the morning at 4,438 yen. 

Kobe Steel was down 0.36 percent at 824 yen, after news late Wednesday that European Union aviation authorities had issued a recommendation not to use parts made by the Japanese steelmaker, which has been hammered by a quality control scandal. 

Panasonic was up 1.85 percent at 1,648 yen following a report that it plans to slash costs at its LCD TV division.

The dollar strengthened to 112.96 yen from 112.93 yen in New York late Wednesday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tokyo stocks head for longest string of gains in 30 years tokyo stocks head for longest string of gains in 30 years

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tokyo stocks head for longest string of gains in 30 years tokyo stocks head for longest string of gains in 30 years

 



GMT 13:42 2015 Saturday ,04 April

Libyan warplane targets camp in Gharyan town

GMT 15:14 2017 Wednesday ,01 March

UN documents nearly 1,500 child soldiers in Yemen

GMT 07:24 2017 Sunday ,01 October

Mexico unlikely to find more quake survivors

GMT 16:15 2015 Wednesday ,11 November

German intelligence 'spied' on Fabius, FBI, UN bodies

GMT 01:32 2017 Saturday ,15 April

Russia's Putin earns about 157,000 USD in 2016

GMT 16:30 2017 Saturday ,15 July

Minister of planning gives priority

GMT 19:45 2017 Wednesday ,05 April

President of Senegal Meets Attorney General

GMT 05:18 2017 Thursday ,21 September

Over 80 missing after migrant boat sinks off Libya

GMT 19:22 2017 Saturday ,01 April

UN: Number of Syrian Refugees Tops 5 million

GMT 15:16 2016 Thursday ,29 September

FBI to put up database on police use of deadly force

GMT 05:06 2016 Friday ,30 September

Indian markets open flat

GMT 01:57 2017 Tuesday ,10 October

Twin suicide bombs kill 13 near Mogadishu airport

GMT 02:25 2017 Friday ,08 September

UAE celebrates National Day at Expo 2017 Astana

GMT 06:19 2017 Sunday ,08 January

Bleaching poses the gravest threat to coral reefs

GMT 12:35 2017 Monday ,18 September

Elham Shahin happy for “Day for Women”

GMT 09:46 2017 Thursday ,22 June

US existing home sales unexpectedly rise in May

GMT 02:36 2017 Tuesday ,10 January

US embassy condemns Al-Arish suicide attack

GMT 10:34 2017 Sunday ,26 November

czar faces graft probe
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday