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Tokyo stocks close at three-month high on virus optimism

Tokyo stocks soared Thursday to a three-month high on optimism over the gradual reopening of virus-hit economies worldwide, as investors also kept a close eye on US-China tensions over Hong Kong.

The benchmark Nikkei 225 index ended up 2.32 percent, or 497.08 points, at 21,916.31, while the broader Topix index was up 1.80 percent, or 27.87 points, at 1,577.34.

"Japanese shares are supported by US rallies" with traders bullish on the reopening of the US and Japan, said Toshiyuki Kanayama, senior market analyst at Monex.

Concerns, however, for a simmering row between the US and China over Hong Kong's special status are putting a brake on the euphoria, analysts said.

"A sense of overheating in the market and worries over the US-China row grew in later trade," said Daiwa Securities.

The dollar fetched 107.86 yen in Asian trade, against 107.77 yen in New York on Wednesday.

In Tokyo, airlines were among the winners, with Japan Airlines rising 1.18 percent to 2,212.5 yen and ANA Holdings ending up 0.76 percent at 2,691.5 yen.

Honda rallied 3.07 percent to 2,898 yen and Toyota climbed 3.45 percent to 6,973 yen.

Market heavyweight and Uniqlo casual wear operator Fast Retailing rallied 3.70 percent to 59,110 yen.

Nissan surged 8.15 percent to 449.4 yen and Mitsubishi Motors climbed 6.36 percent to 334 yen after their three-way alliance with Renault unveiled plans to deepen cooperation

Later Thursday, Nissan is scheduled to release its earnings report for the business year ended in March.

Topics: Nissan , Tokyo , Hong Kong , Mitsubishi Motors , economy
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