The Financial Express

Japanese stocks track Wall St

| Updated: November 30, 2017 12:25:42

Evaly and Fianancial Express Evaly and Fianancial Express
Japanese stocks track Wall St

Japan’s Nikkei share average rose on Wednesday as banks and financial shares tracked their US counterparts higher, shrugging off another North Korean missile launch.

The Nikkei was up 0.4 per cent at 22,576.86 points at the end of morning trading.

The broader Topix gained 0.7 per cent to 1,785.14, while the JPX-Nikkei Index 400 also added 0.7 per cent to 15,809.76, reports Reuters.

Financial and securities shares were among strong gainers, with the banking sub-index rising 2.2 per cent and the insurance sub-index 2.8 per cent higher.

The securities sub-index was up 1.8 per cent and the financials sub-index rose 1.9 per cent.

On Wall Street, all three major indexes logged record closing highs, led by surging financials.

In testimony before a Senate committee, Jerome Powell, nominated to replace Janet Yellen as Fed chair, defended the need to potentially lighten regulation on the financial sector.

Sentiment remained intact despite North Korea firing what appeared to be an intercontinental ballistic missile (ICBM) that landed close to Japan.

Nomura Holdings was up 1.9 per cent, after Japan’s biggest brokerage and investment bank said it would cancel treasury shares worth 4.7 percent of its outstanding shares on Dec. 18

Drugstore chain MatsumotoKiyoshi Holdings shares rose 2.5 per cent after a media report that the company will to tie up with insurer Dai-ichi Life Holdings to sell insurance products in December.

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