Nikkei ends at six-month high, nears prepandemic level on vaccine hope

14-Aug-2020 Intellasia | JapanTimes | 6:02 AM Print This Post

The Nikkei stock index ended at a nearly six-month high on Thursday, approaching its prepandemic levels amid growing hopes for the development of a vaccine against the novel coronavirus.

The 225-issue Nikkei stock average ended up 405.65 points, or 1.78 percent, from Wednesday at 23,249.61, its highest closing level since February 21. The broader Topix index of all first section issues on the Tokyo Stock Exchange finished 18.62 points, or 1.16 percent, higher at 1,624.15.

Gainers were led by precision instrument, electric appliance and pharmaceutical issues.

The Tokyo market got off to a strong start thanks to climbs in all three major US stock price gauges on Wednesday.

Vaccine hopes heightened among investors in both the US and Tokyo markets, following US President Donald Trump’s announcement that his government will purchase 100 million doses of a potential coronavirus vaccine from Moderna Inc.

Also buoyed by the popularity of high-tech issues, especially those related to the semiconductor sector, both the Nikkei and Topix indexes fluctuated far above Wednesday’s closing levels in the afternoon.


Category: Japan

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