[TOKYO] Tokyo's benchmark Nikkei index advanced more than 1.3 per cent on Tuesday after US and European markets bounced back on optimism over post-lockdown economic activity. Read more at The Business Times.
"The view that the economy will stay on a gradual recovery path still holds - unless we see drastic spikes in deaths or critically ill patients," he told AFP, adding markets had fallen too much recently on excessive pessimism.
But it was unknown whether stocks would keep up their run with key economic indicators coming up later this week such as the June US payrolls report on Thursday.Investors shrugged off weak economic data released from Japan early Tuesday, including rising unemployment and poor factory production for May.In individual stocks trade, telecoms and investment giant SoftBank Group rallied 1.30 per cent to 5,450 yen while Uniqlo casual wear operator Fast Retailing gained 1.74 per cent to 61,700 yen.
NTT rose 0.47 per cent to 2,515.5 yen after the Nikkei business daily reported the telecom group would enter the renewable energy market. The group will invest more than 1 trillion yen by 2030 to boost capacity and establish its own transmission network, the daily said.The dollar was trading at 107.76 yen in Asian afternoon trade compared with 107.56 yen in New York Monday afternoon.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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