Tokyo stocks close up 0.91pc
October 21, 2013 - 9:23:44 am
TOKYO: Tokyo stocks closed 0.91 percent higher on Monday, buoyed by a stronger dollar and relief after last week's debt deal in Washington, while investors await long-delayed US jobs data.
The benchmark Nikkei 225 index added 132.03 points to 14,693.57, while the Topix index of first-section shares rose 0.57 percent, or 6.84 points, to 1,212.36.
"The 16-day US government shutdown had prevented the release of key data -- none more critical than jobs figures," Hiroichi Nishi, general manager of equities at SMBC Nikko Securities, told Dow Jones Newswires.
Nishi added that while the push for more profit-taking remains strong after the Nikkei rose for seven straight sessions before falling modestly Friday, many investors are awaiting fresh buying cues.
The US September jobs report is due out on Tuesday, having been delayed from its original October 4 release date because of the government shutdown.
The payrolls data will give dealers clues about the health of the world's largest economy, a key issue for the Federal Reserve's timeline in winding down its massive stimulus drive.
The Fed has said it will start tapering its bond-buying -- which has been credited with helping buoy global equity markets -- when the economy shows signs of a firm recovery.
Investors largely shrugged off finance ministry data published earlier Monday that showed Japan logged a record run of monthly trade deficits after the country's energy bill soared in September.
On currency markets the greenback bought 98.07 yen, up from 97.72 yen in New York Friday afternoon, boosting Japanese exporters.
Toyota gained 0.31 percent to 6,300 yen, Honda rose 0.25 percent to 3,950 yen, Panasonic added 0.85 percent to 949 yen and NEC gained 0.86 percent to 232 yen.
Sony bucked the market's upward trend, slipping 0.46 percent to 1,921 yen.
Tokyo Electric Power fell 1.34 percent to 515 yen after heavy rain at its Fukushima nuclear plant caused a leak of radioactive water containing a cancer-causing isotope, possibly into the sea.
Tokyo's rise Monday came after an upbeat showing on Wall Street Friday, with Google's strong earnings sending its shares rocketing past the $1,000 mark.
Asian investors took a positive lead from New York, where the tech-rich Nasdaq jumped 1.32 percent to highs not seen since September 2000, the S&P 500 climbed 0.65 percent to a new record, and the Dow put on 0.18 percent. (AFP)