Olympic Win, GDP Upward Revision Boost Nikkei to 1 Month High

Japanese stocks surged Monday with the Nikkei index ending at a fresh one-month high as sentiment was lifted by Tokyo’s successful bid to host the 2020 Summer Olympics and the country’s strong growth data.

The 225-issue Nikkei Stock Average closed up 344.42 points, or 2.48 percent, from Friday at 14,205.23, the highest closing level since Aug. 6. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 25.18 points, or 2.19 percent, at 1,173.00.

Almost all 33 sectors gained led by real estate, construction and warehouse issues. The miscellaneous products sector was the only decliner.

The Nikkei briefly added nearly 390 points at the outset of the trading, buoyed by shares likely to benefit from an increase in infrastructure investment and the number of foreign visitors to Japan, brokers said.

via Mainichi

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.