The Nikkei stock index ended at a two-month high Thursday amid growing expectations that the U. S. Federal Reserve will raise…
TOKYO —
The Nikkei stock index ended at a two-month high Thursday amid growing expectations that the U. S. Federal Reserve will raise interest rates this month.
The 225-issue Nikkei Stock Average ended up 171.26 points, or 0.88 percent, from Wednesday at 19,564.80, its highest close since Jan. 5. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 11.60 points, or 0.75 percent, higher at 1,564.69.
Decliners were led by nonferrous metal, securities, and glass and ceramic product issues.
The market, which enjoyed a modest rise the previous day on expectations for stimulus steps in U. S. President Donald Trump’s address to a joint session of Congress, extended gains as U. S. stocks reacted positively and the speech did not include radical measures on trade and currency, brokers said.
“The market had adjusted positions on a possible negative outcome before the event…I think buybacks strengthened after the speech came almost in line with market expectations,” said Akira Tanoue, of Nomura Securities Co.‘s investment research and services department.
The market turned top-heavy in the afternoon as investors took advantage of the upbeat market to lock in profits, brokers said.
