Business News

TOKYO, (MILLAT+APP/AFP) – Tokyo stocks ended
higher Wednesday after another record close on Wall Street and as SoftBank soared in response to Donald Trump’s announcement of a $50 billion investment by the telecoms and internet giant.
Dealers are also looking ahead to a meeting Thursday of the European
Central Bank, which is expected to extend a stimulus programme beyond its
planned March finish and provide further buying support.
Tokyo and other major markets have held their ground despite Italian
Prime Minister Matteo Renzi’s resignation in reaction to losing a consitutional referendum, fuelling worries about stability in the country.
“With the Italian government still in a state of confusion, it’s
difficult for the ECB to take any tapering tone; it’s likely that they’ll simply extend their purchases,” Chihiro Ohta, a Tokyo-based senior strategist at SMBC Nikko Securities, told Bloomberg News.
“We have a general lack of themes to move on today. Given the
market’s mindset that the US economy is improving, stocks should fare well, as investors generally have a more bullish outlook right now.”
The benchmark Nikkei 225 index gained 0.74 percent, or 136.15 points,
to finish at 18,496.69. The broader Topix index of all first-section issues tacked on 0.91 percent, or 13.42 points, to 1,490.62.