Business | Jun 05

Nikkei jumps to 33-year high on U.S. stock surge, robust jobs data

TOKYO, Jun 05 (Japan Today) - Tokyo stocks closed Monday at 33-year highs as investor sentiment was boosted by a surge in U.S. stocks late last week and robust jobs data for May.

The 225-issue Nikkei Stock Average ended up 693.21 points, or 2.20 percent, from Friday at 32,217.43, its highest close since July 20, 1990, when Japan was experiencing an asset price bubble.

The broader Topix index finished 37.09 points, or 1.70 percent, higher at 2,219.79, its highest close since Aug. 1, 1990.

Every industry category except electric power and gas rose. Gainers were led by machinery, marine transportation, and textile and apparel shares.

The U.S. dollar remained firm in the lower 140 yen range after stronger-than-expected U.S. nonfarm payrolls growth in May reignited speculation that the Federal Reserve may not skip an interest rate hike this month, dealers said. ...continue reading

Source: Kyodo

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