Tokyo Stocks Open Monday on Positive Note
(MENAFN) Japan’s benchmark Nikkei 225 climbed sharply on Monday, lifted by strength across global equity markets and increasing speculation that the U.S. Federal Reserve could lower interest rates as early as September.
The Nikkei Stock Average jumped 336.00 points, or 0.77%, closing at 43,714.31. The advance came as commodity trading advisors (CTAs) continued to chase bullish momentum, particularly driven by Wall Street's recent gains.
Investor sentiment was buoyed by growing confidence in a potential Fed rate cut, as well as receding fears over weak corporate earnings, analysts noted.
The broader Topix index also gained ground, rising 13.28 points, or 0.43%, to settle at 3,120.96.
On the Tokyo Stock Exchange Prime Market, advancers outpaced decliners, with 1,130 stocks rising, 443 falling, and 48 closing unchanged.
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