Japan's Nikkei hits highest since July 1990 on weak yen, US optimism

TOKYO : Japan's Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen.

The Nikkei jumped as high as 31,560.43 within the first 10 minutes of trading, although gains mitigated to see the index enter the midday break up 1.32 per cent at 31,325.84, close to the session low. "The deal is not done, so there's still a level of risk, but the basic agreement has seen risks recede and both sides have committed to avoiding a technical default," said Maki Sawada, a strategist at Nomura Securities.

The broader Topix rose as high as 2,175.13, but failed to get close to last week's 33-year high at 2,188.66. It entered the break up 0.96 per cent at 2,166.41.

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

North Korea notifies Japan of plan to launch satelliteSEOUL - North Korea has notified Japan of its plan to launch a satellite between May 31 and June 11, a Japanese coast guard official said on Monday (May 29). Analysts say the military satellite is part of nuclear-armed North Korea’s efforts to advance surveillance technology, including drones, to improve its ability to strike targets in the event of a...
Source: asiaonecom - 🏆 10. / 59 Read more »