Japanese Stocks Close Higher Thanks to Corporate Results And Persistent Delta Concerns

Japanese stocks closed higher as corporate results continued to have a positive effect, but gains were limited by fears of a fast-spreading delta strain.

The Nikkei index closed up 0.24% at 27,888.15 points, after hitting a mid-July peak of 28,128.61 points earlier.

The broader Topix index rose 0.36% to 1936.28 points, but below the session’s peak of 1950.63 points.

“After the Nikkei hit 28,100, it looks like there was a profit run,” said a market trader from an asset management company.

“There are still concerns about the delta strain, so it’s likely to stem the sudden upswing.”

Japan is battling the fifth wave of the Coronavirus, and recorded 12,073 new infections across the country yesterday, after touching a record high two days ago.