Japan Shares Higher on Bright Prospects For Auto Sector

Japanese shares closed higher in choppy trade Wednesday, February 10, after positive earnings from market leaders Toyota and Honda shed light on an improved global economic outlook.

Nikkei’s benchmark rose 0.19% to 29,562.93 points, while cyclical and technology-related consumer stocks led the gains. The broader Topix index increased 0.27% to 1930.82.

This year, Nikkei rose more than 7% to its highest level since 1990 as investors bought shares of Japanese export companies that are expected to benefit as the global economy recovers from the Covid-19 pandemic.