TOKYO (Reuters) – Japanese stocks rose on Friday following Wall Street as hopes for additional stimulus from the US outweighed concerns about the state of the global economy.
The Nikkei rose 0.51% to 23.204.62, while the broader Topix added 0.48% to 1.634.23. The Nikkei is up 0.28% since the beginning of the month.
The rally was led by shares of NGK Insulators Ltd, Japan Steel Works Ltd and Nitto Denko Corp, which gained 8.91%, 7.55% and 7.42%, respectively. The leaders in the decline were West Japan Railway Co, Central Japan Railway Co and East Japan Railway Co, shedding 3.58%, 3.56% and 2.85%, respectively.
Investor sentiment improved after a senior US lawmaker said House Democrats were working on $ 2.2 trillion in stimulus measures.
(Stanley White; Translated by Caleb Davis. Editor Marina Bobrova)