Japan stocks hit 4-month high on strong global equities, softer yen
April 15, 2019 / Shinichi Saoshiro
Japan’s Nikkei share average and the broader Topix both rose to four-month highs on Monday, boosted by a surge in global equities and a weaker yen. The Nikkei climbed 1.4 percent to 22,183.10 as of 0200 GMT after touching 22,185.04, its highest since Dec. 4. Japanese shares were lifted after the S&P 500 closed within one percent of September’s record high on Friday, buoyed by JPMorgan’s strong earnings.
“Japanese shares had long lagged their global counterparts but they are finally beginning to catch up,” said Takashi Hiroki, chief strategist at Monex Securities.“U.S.-China trade concerns have receded, the Fed is no longer hiking rates and Brexit has been postponed, which all bodes well for risk assets. This prepares the way for foreign investors to begin buying undervalued Japanese shares again.” Exporters such as automakers advanced as the yen struggled near a 1-1/2-month low against the dollar. Nissan Motor Co ad...