TOKYO, Dec. 28 (Reuters) – Japanese shares in thin-day holiday trading rose to a record high in nearly three decades as investors continued to bet that US fiscal stimulus and coronavirus vaccines will accelerate global economic recovery.
The Nikkei 225 Index finished 0.74% at 26,854.03, just shy of last week’s 30-year high hit. The broader Topix rose 0.54% to 1,788.04.
Healthcare, utilities, industrial equipment manufacturers and technology stocks have risen in anticipation of a improving employment outlook after a turbulent year killed by the coronavirus revolution.
Buying the positive sentiment, Sharp Corp fell 3.03% after saying it suspects one of its subsidiaries used inappropriate accounting methods.
U.S. President Donald Trump signed a $ 2.3 trillion financial aid and spending bill after refusing to pass the legislation, which will restore unemployment benefits to millions and prevent the partial closure of a federal government.
Europe launched the COVID-19 vaccination campaign on Sunday. Vaccinations have also begun in Britain and the United States, raising hopes that major economies may shake up the pull that has led to the spread of the coronation.
“With the economic stimulus from Japan, Europe, and the United States, it is possible that the global economy will recover faster than expected next year, but this is based on the Vaccines are expected to run smoothly, ”said analysts at Daiwa Securities, who wrote a memo.
The stocks that gained the most among the top 30 Topix Murata Manufacturing Co. Ltd were up 4.67%, followed by Daiichi Sankyo Co. Ltd gaining 2.64%.
The rivals among the Topix 30 Takeda Pharmaceutical Co Ltd were down 1.31%, followed by Mitsui & Co Ltd losing 0.55%.
The Nikkei index had 115 promoters against 102 rejectors.
The volume of shares traded on the Tokyo Stock Exchange’s main board was 0.88 billion, compared to an average of 1.24 billion in the last 30 days. (Reporting by Stanley White; edited by Uttaresh.V)