Nikkei reaches five-week high

Laura Dew
clock

The Nikkei index climbed to a five-week high overnight as a weak yen - and positive pensions news - provided a boost for shares.

The index closed up 1.59% at 15,134, the highest close since 29 January, while the Topix index was up 1.3% to 1,228. A weak yen has helped power certain sectors, including exporters, and this continued overnight. However, the region also reacted well to news the Government Investment Pension Fund in Japan has announced that pension funds need not stick to a "domestic bond-centric" portfolio as the country moves out of deflation. The Abe government is pushing pension funds to invest less in bonds and more in stocks to generate higher returns for the country's ageing population. T...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Trustpilot