By Stanley White
TOKYO, Nov 24 (Reuters) - Japanese shares hit multi-year
highs on Tuesday as progress in developing an inexpensive
coronavirus vaccine boosted hopes of a swift economic recovery,
with sentiment aided by a formal transition approval for U.S.
President-elect Joe Biden.
The Nikkei 225 Index .N225 ended up 2.50% at 26,165.59,
the highest close since May 1991. The broader Topix .TOPX rose
2.23% to 1,765.91, the highest in more than two years. Energy,
real estate, and financial shares led the advance.
AstraZeneca AZN.L said on Monday its COVID-19 vaccine
could be up to 90% effective, cheaper to make and easier to ship
than rival vaccines, lifting global equities. Stocks also got a boost after Biden received an approval to
begin the transition to the White House and after a report that
he would pick former Federal Reserve Chair Janet Yellen to be
the next Treasury secretary. "We're getting closer to a vaccine, and we will also get
more policy support from the incoming U.S. administration, which
are both positive for stocks," said Kiyoshi Ishigane, chief fund
manager at Mitsubishi UFJ Kokusai Asset Management Co.
Japan and many other countries are in the midst of a third
pandemic wave, and an affordable vaccine is considered essential
to end the coronavirus restrictions.
The stocks that gained the most among the top 30 core Topix
names were Shin-Etsu Chemical Co Ltd 4063.T , up 4.98%,
followed by Hoya Corp 7741.T that gained 4.54%.
The underperformers among the Topix 30 were KDDI Corp
9433.T , down 1.25%, followed by Nippon Telegraph and Telephone
Corp 9432.T that lost 1.20%.
There were 205 advancers on the Nikkei index against 19
decliners.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 1.2 billion, compared to the average of
1.15 billion in the past 30 days.
- English (USA)
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Japan shares end at multi-year highs on vaccine cheer, Biden transition
Published 11/24/2020, 02:34 PM
Updated 11/24/2020, 02:40 PM
Japan shares end at multi-year highs on vaccine cheer, Biden transition
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.