Japanese stocks close higher in hopes of US stimulus

Japanese stocks close higher in hopes of US stimulus

Japanese stocks close in positive territory in hopes of US stimulus

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)

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