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Asian stocks soar as inflation concerns ease after US report
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Asian stocks rally after Dow hits record as inflation worries ease
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Asian stocks rally after Dow hits record as inflation worries ease
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By Reuters Staff
(Updates to close)
TOKYO, Jan 7 (Reuters) - Japanese shares ended higher on Thursday, with the Nikkei touching a 30-year peak, powered by financials as U.S. bond yields climbed on expectations of larger stimulus following a Democrat sweep in two Senate runoffs in Georgia.
The Nikkei average closed 1.60% higher at 27,490.13, hitting its highest level since August 1990 at one point during the session and snapping a four-day losing streak.
The broader Topix added 1.68% to 1,826.30, climbing above a peak hit late last year to reach its highest level since October 2018.
Investor appetite was not dented by the chaos in Washington D.C. after supporters of President Donald Trump stormed Capitol Hill, forcing Congress to suspend a session to certify President-elect Joe Biden’s victory.