Daily Times

Tokyo shares closed higher Thursday, snapping a five-day losing streak, after Wall Street gains on strong data and earnings, and a steadying of the yen. The benchmark Nikkei 225 index climbed 0.46 percent, or 120.15 points, to end at 26,507.87, while the broader Topix index rose 0.78 percent, or 14.85 points, at 1,908.17. The yen steadied after its biggest daily gain versus the dollar in 24 years, following a surprise Bank of Japan adjustment to monetary policy. The dollar fetched 131.84 yen in Asian trade, against 132.38 yen in New York on Wednesday. Overnight, Wall Street stocks jumped following a surprisingly strong consumer confidence report and Nike results that topped estimates. The closely watched US consumer confidence index jumped more than expected to 108.3 this month, markedly higher than November’s figure. “Asian stocks picked up where the US market left off, with technology and property companies leading the charge after a profusion of comments from regulators on supporting broader markets,” Stephen Innes of SPI Asset Management said in a note. In Tokyo trading, Toyota gained 1.82 percent to 1,841 yen while Nissan jumped 2.15 percent to 422.3 yen. Sony Group added 0.93 percent to 10,280 yen while industrial robot maker Fanuc firmed 1.05 percent to 20,155 yen.