Japan Shares Closed Higher as The IMF Boosted Earnings Forecast

Japanese stocks closed higher on Wednesday, January 27, thanks to hopes for better corporate results after the International Monetary Fund raised its global growth forecast, while Nitto Denko shares jumped after it revised its earnings outlook.

The benchmark Nikkei index rose 0.31% to 28635.21 points, while the broader Topix index gained 0.65% to 1,860.07 points.

The International Monetary Fund has raised its forecast for global economic growth in 2021 and said that the recession that sparked the Coronavirus last year will be about a full percentage point less than previous estimates.