© Archyde.com. A man walks in front of a screen showing the Dow Jones Index, the Nikkei Index and the exchange rate of the Japanese yen once morest the US dollar in Tokyo on September 7, 2022. Photo: K
TOKYO (Archyde.com) – Japan’s index closed higher on Tuesday, tracking Wall Street gains led by video game company Nintendo, even as investors exercised caution ahead of a key inflation report in the United States.
The Nikkei index ended trading up 0.25 percent at 28,614.63 points, following rising earlier in the session to 28,659.76 points, its highest level since August 26. Among the 225 stocks on the index, 128 rose and 86 fell, while 11 stocks closed unchanged.
The broader Topix index rose 0.32 percent to 1986.57 points.
The US Standard & Poor’s index rose more than one percent overnight before the release of the consumer price index report on Tuesday, through which investors will feel indications regarding the extent of the Federal Reserve’s monetary policy tightening in the coming period.
The energy sector was the best performer on the Nikkei, which rose 0.85 percent, as it continued to recover from its lowest levels in several months amid concerns regarding supplies destined for the northern hemisphere in the winter.
Nintendo was the best performer on the index, jumping 5.51 percent following it announced record domestic sales of the game (Splatoon 3) at its launch on the (Switch) platform, outperforming even the sales achieved by the game (Animal Crossing New (NYSE:) Horizons) at its launch.
Travel-related stocks also rose following a report on Monday said Japan plans to drop requirements for tourist visas from some countries as part of measures to ease strict border controls.
(Prepared by Ahmed El-Sayed for the Arab Bulletin – Edited by Suha Jado)