Japanese stocks closed higher on Monday, the Topix index hit the highest level since September 2021

2023-05-01 06:15:48

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Japanese shares ended higher on Monday, with the Topix reaching its highest level since September 2021. The yen weakened further after the Bank of Japan left policy unchanged last week. Most Asian stock markets were closed on Monday for a holiday.

The Topix rose 1 percent to close at 2,078.06, while the Nikkei gained 0.9 percent to close at 29,123.18. The yen fell about 0.5 percent against the dollar, extending Friday’s 1.7 percent loss.

Keyence contributed the most to the Topix’s gains, rising 2.8 percent. Of the index’s 2,160 constituents, 1,587 rose, 489 fell and 84 were flat.

“After the BOJ monetary policy meeting, there was a sense of relief that monetary easing would continue for the time being,” said Takeru Ogihara, chief strategist at Asset Management One.

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