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  • Tokyo's benchmark Nikkei index rose for a sixth consecutive session on Monday, breaking through the 23,000-point mark as investors took heart from rallies on Wall Street. The Nikkei 225, which had surged 4.5 percent last week, added another 1.37 percent, or 314.37 points, to close at 23,178.10, while the broader Topix index was up 1.13 percent, or 18.24 points, at 1,630.72. "Japanese shares are supported by sharp rallies in the US market and depreciation of the yen, with (the Nikkei 225) rising above the 23,000-mark" that should provide a psychological boost to the market, said chief strategist Yoshihiro Ito of Okasan Online Securities. Wall Street stocks surged Friday following a surprisingly strong US jobs report, which markets viewed as proof the economy was recovering from the coronavirus crisis. The Labor Department reported the US economy regained 2.5 million jobs in May and the unemployment rate dropped as pandemic shutdowns began to ease. The report defied even the most optimistic forecasts among economists, who had been expecting a payroll decline of more than eight million and a jobless rate of 20 percent or higher. Tokyo investors also welcomed an upward revision of Japan's gross domestic product in the first quarter, although the economy was still mired deep in recession. The dollar fetched 109.52 yen in Asian afternoon trade, against 109.61 yen in New York late Friday. In Tokyo, airlines were among the winners, with Japan Airlines climbing 2.98 percent to 2,448 yen and ANA Holdings jumping 2.51 percent to 2,854 yen. Banks were also higher, with Mitsubishi UFJ Financial gaining 4.45 percent to 483.2 yen and Sumitomo Mitsui trading up 4.45 percent at 3,425 yen. si/ric/qan
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  • Tokyo's Nikkei closes up for sixth straight session
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