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Tokyo Stocks Jump on U.S. Rally, Weaker Yen

A pedestrian wearing a face mask looks at an electric quotation board displaying the numbers on the Nikkei 225 index on the Tokyo Stock Exchange, Tokyo on December 2, 2019. (Shutterstock)
A pedestrian wearing a face mask looks at an electric quotation board displaying the numbers on the Nikkei 225 index on the Tokyo Stock Exchange, Tokyo on December 2, 2019. (Shutterstock)
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05 Feb 2020 04:02:09 GMT9
05 Feb 2020 04:02:09 GMT9

Tokyo stocks stretched their gains Wednesday, receiving support from an extended rally on Wall Street and the yen's depreciation against the dollar.

The Nikkei average of 225 selected issues on the first section of the Tokyo Stock Exchange soared 234.97 points, or 1.02 pct, to end at 23,319.56, following a 112.65-point jump Tuesday.The TOPIX index of all TSE first-section issues closed at 1,701.83, up 17.59 points, or 1.04 pct, after scaling 11.58 points the previous day.

A wide range of stocks leaped right after the opening bell, with buying sentiment ballooning in the wake of the Dow Jones industrial average rising 1.44 pct and the Nasdaq composite index rewriting an all-time high for the first time in eight market days.

Investor appetite was whetted by the Chinese government's active posture to hammer out economic measures and continued ample liquidation injections by the People's Bank of China to fend off adverse effects of the spreading outbreak of a novel coronavirus, brokers said.

The dollar's jump into a 109-yen range also spurred buying of Tokyo stocks, they noted.

After showing some top-heaviness, the market gathered steam again thanks to continued advance in Shanghai and other Asian markets. But selling pressure built up toward the closing amid persistent fears over the unabated coronavirus epidemic.

JIJI Press

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