Nikkei closes at 26-year high on yen's softer tone
Tokyo stocks closed higher on Tuesday, with 225-issue Nikkei stock index finishing at its highest level in more than 26 years.
![Nikkei closes at 26-year high on yen's softer tone Nikkei closes at 26-year high on yen's softer tone](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2018/01/16/28156-e80e38f63e735641a8583b0e1fb5b946.jpg?itok=QPcBWI1W&c=16adb1002e704ff20f1cd314074bb29e)
Tokyo stocks closed higher on Tuesday, with the benchmark Nikkei stock index finishing at its highest level in more than 26 years as the yen`s softer tone against the US dollar lifted exporters` issues and raised hopes for earnings results at the end of the month.
The 225-issue Nikkei Stock Average added 236.93 points, or 1.00 per cent, from Monday to close the day at 23,951.81, marking its highest closing level since November 15, 1991, Xinhua news agency reported.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 10.35 points, or 0.55 per cent, to finish at 1,894.25.
Technical analysts here said that as the yen continued to ease against the US dollar during trading hours investors` risk appetite returned.
As a result, export issues, which are widely exposed to currency fluctuations, advanced as a weaker yen boosts export-oriented firms` profit outlooks when the yen is weak in comparison to other major currencies.
Exporters, including automobile and tech-related issues, also see yields boosted when repatriated on favourable exchange rates, all underpinned by increased competitiveness in overseas markets.
A rise in US stock futures during trading hours here also helped buoy the market, investment analysts said, with the market`s upside supported by overseas investors speculating that Japanese firms will produce solid earnings results at the end of this month.
By the close of play, electric appliance, information and communication, and transportation equipment-linked issues led gainers, and falling issues outpaced rising ones by 980 to 972 on the First Section, with 111 ending the day unchanged.
On the main section on Tuesday, 1,318.17 million shares changed hands, dropping from Monday`s volume of 1,421.70 million shares.
Market capitalization on the First Section totalled a record 701.72 trillion yen ($6.33 trillion) and the turnover on the second trading day of the week came to 2,430.7 billion yen ($21.94 billion).
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
04:44 PM IST