financetom
Market
financetom
/
Market
/
Japan's Nikkei rallies as Wall Street gains buoy battered sentiment
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Nikkei rallies as Wall Street gains buoy battered sentiment
Mar 16, 2025 8:22 PM

(Updates for midday break)

By Brigid Riley

TOKYO, March 17 (Reuters) - Japan's Nikkei share average

rallied amid widespread gains on Monday as investor sentiment

got a boost from a sharp rise in U.S. stocks at the end of last

week.

The Nikkei rose 1.1% to 37,475.24 as of the midday

break, touching its highest intraday level in more than a week,

while the broader Topix was up 1.2% at 2,747.62.

Wall Street's gains, as well as news that the U.S. Congress

had passed a stopgap spending bill and averted a partial

government shutdown, were buoying sentiment and driving the

equity market's rise on Monday, said Hiroshi Namioka, chief

strategist at T&D Asset Management.

"It may be fleeting, but for now the global risk-off trend

has eased up today," he said.

All three major U.S. stock indexes posted solid gains on

Friday as investors hunted for bargains at the end of a

tumultuous week, with recently battered tech-related megacaps

enjoying a strong comeback.

Gains were particularly noticeable among Japan's

heavyweights on Monday. Tokyo Electron ( TOELF ), up 2.9%, and

Advantest ( ADTTF ), adding 2.2%, were among

semiconductor-related stocks to follow their U.S. peers higher,

giving the heftiest lift to the overall index.

Heavy machinery makers surged, led by an 11% jump

in defence-related Mitsubishi Heavy Industries ( MHVYF ) as

investors continued to speculate about whether Japan may need to

beef up its defence spending in the future.

Kawasaki Heavy Industries ( KWHIF ) rose 5.2%.

While the risk-off mood was taking a breather, investors had

their eyes on a U.S. retail sales report due later in the day

amid concerns about the economic growth outlook in the United

States.

The U.S. Federal Reserve is expected to stand pat when it

meets later this week, along with the Bank of Japan, as the

central banks size up global and domestic risks.

Among other major stocks, AI-focused startup investor

SoftBank Group and game maker Sony Group ( SONY ) were

both up a little more than 2%. Uniqlo parent Fast Retailing ( FRCOF )

edged 0.4% higher.

(Reporting by Brigid Riley; Editing by Tom Hogue and Mrigank

Dhaniwala)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2025 - www.financetom.com All Rights Reserved