Tokyo stocks close higher with eyes on vaccine news

21 May, 2021 - 00:05 0 Views
Tokyo stocks close higher with eyes on vaccine news

eBusiness Weekly

Tokyo stocks closed higher on Thursday after mixed trade, with investor eyes on expected approval of Covid-19 vaccines in Japan.

The benchmark Nikkei 225 index rose 0.19 percent, or 53.80 points, to 28 098.25 while the broader Topix index edged up 0.04 percent, or 0.68 points, to 1 895.92.

“After starting with falls. . .trade was mixed and almost flat, with eyes on the expected approval of Moderna and AstraZeneca coronavirus vaccines, which in turn would help shore up (Japan’s) economic recovery,” said Mitsuhiro Shibata, senior strategist of Daiwa Securities.

Takeda Pharmaceutical slipped 0.19 percent to close at 3 7614 yen following reports that Japanese authorities will this week approve the use of Moderna’s Covid-19 vaccine, which the Japanese firm will import.

Daiichi Sankyo edged up 0.11 percent to 2 626.5 yen after reports that the AstraZeneca vaccines it produces will also be approved in Japan.

Chip-linked shares were among winners, with chip-making equipment manufacturer Tokyo Electron rallying 2.05 percent to 45 870 yen and Advantest jumping 3.50 percent to 9 460 yen on robust demand.

Fast Retailing slipped 0.52 percent to 85 700 yen after reports said that US customs in January had partially blocked imports from its casualwear brand Uniqlo, over rights issues linked to China’s Uyghur minority.

The dollar fetched 109.09 yen in Asian trade, against 109.21 yen in New York late Wednesday.

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