Japan Shares Hit over 3-Month High on Hopes of Economic Recovery Boosting Corporate Results
Tuesday, 2 June 2020 10:13 WIB | MARKET UPDATE |Nikkei 225Saham Jepang indeks Topix

Japanese shares hit a more than three-month high on Tuesday, as hopes for global economic recovery with more countries gradually reopening after coronavirus-related lockdowns bolstered expectations for corporate earnings.

The Nikkei index rose 0.91% to 22,263.43 by 0200 GMT, its highest level since Feb. 26, with industrial and telecommunication shares leading the advance as investors bet on a rebound in activity both domestically and overseas. The broader TOPIX index rose 1.07% to 1,585.61.

Japanese stocks also got a boost from overnight Wall Street gains, after data showed U.S. manufacturing recovered from an 11-year low, offering more signs that the global economy is at last starting to steady since the coronavirus outbreak.

The Nikkei has rallied around 36% from its low of March 16 as coronavirus infections in Japan slowly fell, prompting the officials to remove lockdown restrictions and allow more retailers to resume operations.

Source : Reuters

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