Tokyo stocks close higher

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Tokyo stocks closed higher as hopes for stimulus policies around the world outweighed pressure from a stronger yen.

The benchmark Nikkei 225 index rose 0.18 percent, or 49.27 points, to 26,806.67, while the broader Topix index was up 0.32 percent, or 5.75 points, at 1,792.58.

But shares quickly climbed into positive territory with"hopes for fiscal and monetary measures taken by major countries... sustaining overall market sentiment", said Yoshihiro Okumura of Chibagin Asset Management. Last week, Japan approved more than $700-billion in fresh stimulus to fund projects from anti-coronavirus measures to green tech.

Among major shares, FujiFilm Holdings dropped 2.99 percent to 5,530 yen after reports said authorities were set to rule that the firm failed to prove the effectiveness of its flu drug Avigan for treating COVID-19.

 

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