Nikkei Rises 0.7%, Led by Auto, Pharma Stocks

Dow Jones
4 hours ago

0019 GMT - Japanese stocks are higher after the Democratic sweep of U.S. Congress boosted expectations for a quick end to the Iran conflict, leading to sharply lower oil prices overnight. Auto, pharmaceutical and real estate stocks are leading gains. Toyota Motor is up 7.5%, Astellas Pharma is 9.5% higher and Sumitomo Realty & Development is up 7.2%. The dollar is at 158.41 yen, compared with Y158.17 as of Wednesday's Tokyo stock market close. Investors are closely watching crude oil prices and domestic earnings. Toyota is set to release its quarterly earnings later Thursday. The Nikkei Stock Average is up 0.7% at 62644.86.

 

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