Nikkei extends rally to 4th straight day; another 29-year high
Japan Today -- Nov 28
Tokyo stocks ended higher Friday, with the benchmark Nikkei extending its rally to a fourth straight day and renewing a 29-year high, as buying in real estate and high-tech shares wiped out initial losses on the yen's rise.

The 225-issue Nikkei Stock Average ended up 107.40 points, or 0.40 percent, from Thursday at 26,644.71, its highest closing since April 18, 1991. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 8.27 points, or 0.47 percent, higher at 1,786.52.

Other gainers included nonferrous metal, pharmaceutical and electric appliance issues.

The U.S. dollar slid to the upper 103 yen range amid rising concern over a recent resurgence of coronavirus infections in Japan. Yasutoshi Nishimura, the minister in charge of the country's virus response, suggested at a press conference Thursday that the government could declare another state of emergency if the infection situation worsens.

Stock trading was volatile during the day, but the Nikkei managed to reverse course and edged up in the afternoon after it was under pressure from the strong yen, which erodes Japanese companies' overseas profits when repatriated.

News source: Japan Today
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