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Last Updated, Feb 13, 2024, 8:18 AM
Tokyo stocks rally tracking Wall Street gains
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TOKYO, Feb. 13 (Xinhua) — Tokyo stocks continued to rally on Tuesday buoyed by an upbeat forecast of tech heavyweights and the surge in the U.S. stock market.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 1,066.55 points, or 2.89 percent, from Friday to close at 37,963.97, its highest close since January 1990.

The index saw its single-day rise exceed 1,000 points, marking a nearly four-year high.

The broader Topix index, meanwhile, finished 54.15 points, or 2.12 percent, higher at 2,612.03, its highest close since February 1990.

Market watchers here noted that tracking a record high in the Dow Jones Industrial Average in the overnight U.S. stock market, foreign institutional investors, bolstered by a strong risk appetite, poured funds into major Japanese stocks, including semiconductor-related ones.

Analysts also said that speculation of prolonged monetary easing by the Bank of Japan also contributed to the buying spree, leading to a weaker yen.

On the top-tier Prime Market, gainers were led by insurance, electric appliance and service issues.

Issues that advanced outpaced those that fell by 1,274 to 353, while 30 ended the day unchanged.

Tuesday marked the first trading day of the week after a public holiday on Monday.

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