Business News

TOKYO, (APP/AFP) – Tokyo shares were on track
for a fourth winning session Thursday, but gains were capped as investors await details of a Japanese stimulus package, while Nintendo soared on Pokemon Go mania.
The benchmark index was set to erase all of the steep losses it
suffered in the wake of Britain’s vote to quit the European Union last month, which pummelled global financial markets.
But analysts warned profit-taking would keep a lid on gains after
adding more than seven percent so far this week.
“The upside to the market right now is limited,” Mitsushige Akino, an
executive officer at Ichiyoshi Asset Management, told Bloomberg News.
“While there are some that will buy shares to cover their short
positions, others will be selling because the market has finally rebounded.”
By the break, the Nikkei 225 was up 0.76 percent, or 123.87 points,
at 16,355.30, while the broader Topix index of all first-section shares climbed 0.75 percent, or 9.73 points, to 1,309.99.
Dealers are waiting to see what Japan’s government has in store to
boost growth in the world’s third-largest economy.