Nikkei Rallies as Tensions over Greenland Ease

Tokyo, Jan. 22 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average rallied on Thursday, reflecting eased concerns about tensions between the United States and Europe regarding Greenland. The index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section closed up 914.25 points, or 1.73 pct, from Wednesday to 53,688.89. The broader TOPIX index gained 26.68 points, or 0.74 pct, to 3,616.38. Investor sentiment brightened after U.S. President Donald Trump retracted his plan to impose additional tariffs on eight European nations opposing his desire to take over the Danish territory of Greenland. Market players were also “reassured as the domestic bond market calmed down for now,” an official of a major brokerage firm said. The key 10-year Japanese government bond yield fell by 0.050 percentage point to 2.235 pct in the afternoon. In Tokyo currency trading, the euro renewed its record high against the yen. At 3 p.m., the dollar stood at 158.71-71 yen, up from 157.90-91 yen at 5 p.m. Wednesday. The euro was at 1.1688-1688 dollars, down from 1.1716-1717 dollars, and at 185.50-52 yen, up from 185.02-04 yen. END [Copyright The Jiji Press, Ltd.]