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Tokyo stocks end higher on weaker yen

TOKYO
2024-08-20 17:25

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TOKYO, Aug. 20 (Xinhua) -- Tokyo stocks ended higher on Tuesday, with the Nikkei index briefly gaining over 2 percent, as a weakening yen prompted buybacks after a fall the previous day.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up by 674.30 points, or 1.80 percent, from Monday at 38,062.92.

The broader Topix index, meanwhile, finished 29.40 points, or 1.11 percent, higher at 2,670.54.

Market watchers here noted that the U.S. dollar strengthened to the lower 147 yen range in Tokyo, prompting investors to widely buy back stocks that fell the previous day.

Early gains were led by major chip-related firms such as Tokyo Electron and Advantest, which tracked gains in their counterparts on the Wall Street market overnight on the prospect that the Fed could begin slowly reducing borrowing costs, analysts said.
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