Business News

TOKYO, (MILLAT+APP/AFP): Tokyo stocks opened
higher on Wednesday, following another record close on Wall Street and after Paris stocks reached the year’s highest level.
Tokyo’s benchmark Nikkei 225 index rose 0.40 percent, or 73.45
points, at 18,433.99 in the first few minutes of trade, while the broader Topix index of all first-section issues was up 0.45 percent, or 6.63 points, at 1,483.83.
Japanese mobile phone carrier Softbank jumped nearly five percent
soon after the opening bell, with investors hailing CEO Masayoshi Son’s meeting with president-elect Donald Trump in New York.
Trump said Tuesday that Son had agreed to invest $50 billion in
business and job creation in the United States.
Global markets have held their ground despite Italian Prime Minister
Matteo Renzi’s resignation following his defeat in Sunday’s referendum, which came in the wake of recent shock votes in Britain and the United States.
The year has seen a wave of anti-establishment populism, including
Britain’s vote to leave the EU and the US election of Trump for president.
Financial shares continued to benefit from a post-election rally,
with Wall Street stocks gaining Tuesday as the Dow set yet another record close.
The Dow Jones Industrial Average rose 0.2 percent to 19,251.78, its
second straight record.
“This stabilisation story in Europe and further stimulus from the ECB
will be bullish for equities,” James Woods, Sydney-based analyst at Rivkin
Securities, told Bloomberg News.
“The minimum we’re expecting is for the ECB to announce a six-month
extension.”
In the currency market, the dollar rose to 114.14 yen, compared with
114.03 yen in New York on Tuesday.