Tokyo stocks advance in morning as recovery hopes trigger buybacks

Economy

Tokyo stocks rose sharply Tuesday morning with the Nikkei briefly rising over 2 percent, as renewed hopes of an economic recovery in Japan, backed by the accelerated coronavirus vaccine rollout, boosted buybacks. The 225-issue Nikkei Stock Average jumped 577.81 points, or 2.08 percent, from Monday to 28,402.64. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 28.36 points, or 1.51 percent, at 1,907.22. Gainers were led by insurance, nonferrous metal, and iron and steel issues.

Kyodo News

Kyodo News