Japanese Stocks Rise After US Stocks Rise Overnight

Japanese stocks closed higher on Wednesday after an overnight rally in US stocks improved risk appetite, prompting investors to buy stocks that saw last month’s sell-off and stocks of companies with strong expectations.

The Nikkei index rose 1.68% to close at 27533.60 points, while the broader Topix index rose 2.14 percent to 1936.56 points.

The three major US indices rose overnight after investors digested the strong earnings of major US companies in the face of mixed economic data and inflation concerns.

Shares of electronic equipment maker Keynes jumped 6.18 percent after it reported record operating profits in the nine months to December.

And Sony Group’s stock rose 4.93 percent ahead of the release of its expected business results report after the close.

Airlines shares rose to lead the gains in the sub-sector indices.