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  • Tokyo stocks closed higher on Thursday as hopes for stimulus policies around the world outweighed pressure from a stronger yen. The benchmark Nikkei 225 index rose 0.18 percent, or 49.27 points, to 26,806.67, while the broader Topix index was up 0.32 percent, or 5.75 points, at 1,792.58. The market started lower with investors wary about a higher yen, a key factor for Japanese exporters. But shares quickly climbed into positive territory with "hopes for fiscal and monetary measures taken by major countries... sustaining overall market sentiment", said Yoshihiro Okumura of Chibagin Asset Management. The Nasdaq set a fresh record on Wednesday as markets cheered progress on US stimulus talks and a dovish Federal Reserve announcement. Last week, Japan approved more than $700 billion in fresh stimulus to fund projects from anti-coronavirus measures to green tech. "While sentiment remains positive, profit-taking can easily emerge at current share levels," Okumura told AFP. "Trading is expected to be in a limited range toward the end of the year," he added. The dollar changed hands at 103.31 yen in Asian afternoon trade, down from 103.43 yen in New York. Among major shares, FujiFilm Holdings dropped 2.99 percent to 5,530 yen after reports said authorities were set to rule that the firm failed to prove the effectiveness of its flu drug Avigan for treating Covid-19. Rival pharmaceutical firm Shionogi jumped 2.57 percent to 5,579 yen after it said it was going to start a clinical trial for its coronavirus vaccine. Sony gained 2.66 percent to 10,025 yen, topping the 10,000 level for the first time in nearly two decades. And Nintendo soared 6.60 percent to 67,600 yen on reported brisk sales of its games during the Christmas season. si/kaf/axn
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  • Tokyo stocks close higher
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