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Roundup: Japan's Nikkei ends greater on hopes for China's economic system

TOKYO, March 3 (Xinhua) — Japan’s benchmark Nikkei stock index closed at an almost two-month excessive on Friday, helped by Wall Street’s in a single day rise, and hopes for China’s economic system following strong information.

The 225-issue Nikkei Stock Average added 428.60 factors, or 1.56 %, from Thursday to shut the day at 27,927.47, marking its highest closing stage since Dec. 15.

The broader Topix index, in the meantime, gained 24.95 factors, or 1.25 %, to complete at 2,019.52.

Local brokers stated Wall Street’s rise supplied some impetus early on, with China-linked points additionally lifting the broader market on continued hope for the nation’s post-COVID-19 pandemic revival.

“Investors are hopeful for the country’s post-COVID economy as they eye whether the government will release an economic forecast,” Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co., was quoted as saying.

“China’s strong purchasing managers’ index for February also raised Chinese-oriented shares,” Ichikawa stated of the info.

Nikkei heavyweight Fast Retailing helped prop up the broader market, leaping 3.9 %, after the corporate launched strong same-store gross sales at its Uniqlo outfitters in February in comparison with a yr earlier.

Other notable advancers included drugmaker Daiichi Sankyo, which leapt 5.1 %, and silicon wafer maker Shin-Etsu Chemical, which closed 3.0 % greater.

Chinese-linked points buoying the market included Hitachi Construction Machinery advancing 3.4 %, and Yaskawa Electric closing 1.1 % greater.

By the shut of play, precision instrument, wholesale commerce and pharmaceutical points comprised those who gained probably the most.

The turnover on the ultimate buying and selling day of the week got here to three,250.07 billion yen (23.86 billion U.S. {dollars}).

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