Japanese stocks strengthened on Friday, posting their fourth consecutive weekly gainOn September 17, 2021 by Paula Antle
Japanese stocks strengthened on Friday, posting their fourth consecutive weekly gain. They were supported by a weaker yen and a continued decline in cases of COVID-19. Wall Street was nearly flat on Thursday (Sep 16) and closed mixed.
Tokyo’s key Nikkei 225 index gained 0.58% on Friday to close at 30,500.05 points. It was up 0.39% for the week and 8.58% so far in September. The broader Topix index rose 0.48% to 2,100.17 points on Friday.
In addition to rising vaccination rates and a decline in new coronavirus infections, sentiment in the Japanese market was boosted by Prime Minister Yoshihide Suga’s announcement in early September that he would step down from his post after a year in office.
US stocks were almost flat on Thursday after mixed news from the domestic economy. The key Dow Jones Industrial Average index lost 0.18% to close at 34,751.32 points. The broader S&P 500 index fell 0.16% to 4,473.75 points. Conversely, the tech-heavy Nasdaq Composite rose 0.13% to 15,181.93 points.