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Tokyo stocks end higher on dip-buying

TOKYO
2023-08-07 16:59

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TOKYO, Aug. 7 (Xinhua) -- Tokyo stocks ended slightly higher on Monday, supported by bargain-hunting and solid earnings results by some firms.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, rose 61.81 points, or 0.19 percent, from Friday to 32,254.56.

The broader Topix index, meanwhile, finished 9.30 points, or 0.41 percent, higher at 2,283.93.

The Nikkei lost 300 points at the outset, at one point dropping below the 32,000 psychological threshold, but the benchmark wiped out the early losses with investors stepping up buying the dip.

Gainers were led by farm and fishery, pharmaceutical and precision textile and apparel shares, with Astellas Pharma surging 200 yen, or 10.0 percent, to 2,191 yen.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2,516 to 1,120, and 214 stocks ended unchanged.
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