Tokyo stocks close higher after US jobs report

TOKYO, July 9 (INP) – Tokyo stocks rallied more than one percent on Monday, in line with a broad Asia advance following healthy gain on Wall Street as investors welcomed a strong US jobs report.

The benchmark Nikkei 225 index rose 1.21 percent, or 264.04 points, to 22,052.18 while the broader Topix was up 1.20 percent, or 20.25 points, at 1,711.79.

“The Nikkei index largely advanced in the morning, tracking gains on Wall Street… Then stocks were further up as investors sentiment improved following the rise of Chinese shares,” said Okasan Online Securities chief strategist Yoshihiro Ito.

Hong Kong and Shanghai led Asian gains as the solid employment data reinforced confidence in the US economy and provided a distraction from ongoing trade tensions between the Washington and Beijing.

The dollar was changing hands at 110.50 yen in Asian trade, against 110.46 yen in New York late Friday.

Electronics parts maker Murata Manufacturing soared 5.87 percent to 20,095 yen in Tokyo, while telecom giant SoftBank jumped 3.43 percent to 8,578 yen and Nintendo climbed 2.53 percent to 35,600 yen.

Drug maker Eisai spiked 16.33 percent to 10,710 yen after announcing on Friday positive clinical trial results on a new Alzheimer’s drug conducted with US firm Biogen.

Inp/khan