Tokyo stocks rise on Wall Street gains

TOKYO, Nov. 25 (Xinhua) — Tokyo stocks gained on Monday, tracking the strong performance on Wall Street as investors’ sentiment was boosted by optimistic U.S. data.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, rose 496.29 points, or 1.3 percent, to close at 38,780.14.
The index briefly surpassed the 39,000 mark, gaining over 750 points at its peak, driven by positive sentiment from strong U.S. economic indicators and domestic dividend reinvestment.
The preliminary U.S. Purchasing Managers’ Index (PMI) for November, released last week, highlighted a resilient U.S. economy, pushing major U.S. indices to record highs. The optimism carried over to Tokyo markets, spurring broad-based buying in key sectors like precision machinery and chemicals.
However, profit-taking and geopolitical uncertainties, including unclear policies from the incoming U.S. administration, limited further gains. Analysts noted that while the market remains supported by favorable factors, challenges to sustained upward momentum persist.
The broader Topix Index rose by 19.07 points, or 0.71 percent, to close at 2,715.60.
The Tokyo Stock Exchange’s Prime section saw 744 stocks rise, 823 decline, and 78 remain unchanged. ■