Tokyo shares end up 0.84pc after Wall Street rally

April 03, 2014 - 10:02:47 am

TOKYO: Tokyo shares rose 0.84 percent Thursday after another strong performance on Wall Street, where the S&P 500 ended at a fresh high.

The headline Nikkei 225 index added 125.56 points to finish at 15,071.88, while the Topix index of all first-section shares gained 0.45 percent, or 5.41 points, to 1,216.77.

Tokyo shares benefited from the overnight surges on Wall Street, with the S&P 500 marking the second record close in a row, rising 0.29 percent to 1,890.90.

Hopes for recovery in the United States has been improving global investors' risk appetite, brokers said.

Tokyo shares were lifted by the yen's relative weakness, which stood at 103.89 yen to the dollar Thursday afternoon in Tokyo, staying close to 103.85 yen in New York late Wednesday, supporting exporters.

"The weaker yen is helping restore confidence in the market's short-term viability on the back of rising US Treasury yields," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

Most players have discounted the notion that the Bank of Japan will implement more easing steps at its April 7-8 meeting, or even at month-end, he told Dow Jones Newswires.

Meanwhile, investors stayed away from making aggressive moves ahead of important US non-farm payroll data due Friday, brokers said.

Among major issues, Honda rose 1.04 percent to 3,700. Telecom operator SoftBank added 0.94 percent to 8,140. Casual clothing chain Fast Retailing rose 1.78 percent to 38,400. (AFP)