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Tokyo stocks end higher tracking Wall Street gains

TOKYO
2024-06-03 15:39

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TOKYO, June 3 (Xinhua) -- Tokyo stocks closed higher on Monday tracking overnight gains in the U.S. stock market amid improving market sentiment.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, went up 435.13 points, or 1.13 percent, from Friday to close the day at 38,923.03.

The broader Topix index, meanwhile, finished 25.58 points, or 0.92 percent, higher at 2,798.07.

Market watchers here noted that the U.S. stock market saw the Dow Jones Industrial Average rebound after four days of losses with the largest single-day gain in nearly a year, amid easing concerns over persistent inflation.

Tokyo saw limited gains for the entire trading day, however, as some semiconductor-related stocks underperformed, and speculation about potential policy adjustments by the Bank of Japan weighed on the market, according to local analysts.

In the afternoon, investor sentiment was further dampened by a drop in automobile stocks, such as Toyota, following reports of improper vehicle certifications.

On the Prime Market, gainers were led by securities house, insurance and marine transportation issues.

Issues that advanced outpaced those that declined by 1,025 to 563, while 58 ended the day unchanged.
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