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Tokyo stocks rebound amid cautious trading

Tokyo stocks rebound amid cautious trading

Xinhua
09 Dec 2024, 13:15 GMT+10

TOKYO, Dec. 9 (Xinhua) -- Tokyo stocks rebounded Monday, following gains in U.S. tech stocks over the weekend with strong demand seen in leading stocks.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed the day at 39,160.50, up 69.33 points, or 0.18 percent from the previous trading day.

The Nikkei temporarily turned negative during the day as profit-taking and resistance at the 39,000-point level weighed on the market.

The Nasdaq Composite and S&P 500 indices in the United States reached record highs on Dec. 6, spurred by November's employment data aligning with market expectations and fueling speculation of a December interest rate cut.

The factors contributed to early buying in Tokyo, particularly in key tech stocks, despite some pullbacks later in the session.

The broader TOPIX index also gained, ending 7.34 points, or 0.27 percent higher at 2,734.56.

On Tokyo Stock Exchange's Prime section, 1,079 rose, 500 fell, and 65 remained unchanged.

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