Nikki records its biggest gain since 2016

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Nikki records its biggest gain since 2016, today Tuesday 24 March 2020 12:14 PM

The Nikkei index of Japanese stocks rose more than 7% with the beginning of trading today, achieving the largest daily gain in more than four years, thanks to huge buying hopes from the Bank of Japan and public pension funds.

The Nikkei rose 7.1%, its biggest daily increase since February 2016, to close at 18,092.35

Point which is the highest closing level in two and a half weeks.

Softbank Group shares jumped 19%, to continue the gains that started the previous day after the technology group announced the sale of assets worth $ 41 billion and a share buy-back process.

Record to support the falling stock price.

The broader Topix index rose 3.2% to 1,333.10 points, and all 33 sub-sector indices rose, except for only four.

Oil companies and companies related to the semiconductor sector were among the most prominent gainers. Inpex Corp, the largest oil and gas company in Japan, jumped 10.8%, and Tokyo Electron, which supplies chip equipment, increased 18%.

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