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Tokyo stocks close higher after reports of President Donald Trump’s health

Tokyo stocks closed higher on Monday as investors responded positively to US President Donald Trump signalling that his health is improving after contracting the coronavirus.The benchmark Nikkei 225 index rose 1.23 percent, or 282.24 points, to end at 23,312.14, while the broader Topix index advanced 1.74 percent or 28.03 points, to 1,637.25.

“Reports that US President Trump could be discharged as early as today gave a relief to investors, prompting purchases,” Daiwa Securities said in a commentary.

But others noted the upside is capped as investors kept close watch on how Trump’s health develops.

President Donald Trump

Trump waved at supporters from a motorcade Sunday on a short drive outside the hospital where he is being treated for COVID-19.

The last-minute outing came with Trump’s doctors satisfied enough about his progress to suggest the possibility he might discharged on Monday.

The dollar fetched 105.58 yen in Asian trade, against 105.37 yen in New York late Friday.

In Tokyo, Sony was up 1.79 percent at 7,892 yen, Honda rose 2.58 percent to 2,561.5 yen, and Nippon Steel rallied 5.97 percent to 1,042 yen.
Tourism-linked firms were among winners on expectations the industry will pick up with domestic travel increasing.

Japan Airlines rose 2.95 per cent to 2,024.5 yen, its rival ANA Holdings ended up 2.38 percent at 2,490 yen and Shinkansen bullet-train operator Central Japan Railway climbed 6.22 percent to 15,615 yen.

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Source: eNCA