Japanese stocks close higher amid easing coronavirus fears

Japanese stocks close higher amid easing coronavirus fears

Japanese stocks close higher amid easing coronavirus fears

TOKYO (Reuters) – Japanese stocks surged to weekly highs on Friday amid declining coronavirus cases in the country's capital, Tokyo.

The Nikkei rose 0.74% to 23.406.49, while the broader Topix added 0.72% to 1.636.64. The Nikkei is up 0.41% since the beginning of the month.

Both indices hit their highest levels since September 3.

The rally was led by shares of Rakuten Inc, Yamaha Corp and Bandai Namco Holdings Inc, which gained 5.21%, 4.31% and 4.04% respectively. The leaders in the decline were Sekisui House Ltd, Suzuki Motor Corp and Shinsei Bank Ltd, which lost 4.01%, 3.42% and 2.11%, respectively.

The daily number of coronavirus cases in Tokyo has been gradually declining for more than a month, from a peak of 472 cases in early August to 276 on Thursday.

(Aimee Yamamitsu; Translated by Caleb Davis. Editor Anna Kozlova)

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