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Nikkei 225 Up 3% on Wall Street Cues, Bargain-Hunting

MT Newswires ·  {{timeTz}}

06:01 AM EDT, 10/04/2022 (MT Newswires) -- The Nikkei 225 opened higher Tuesday on overnight Wall Street cues and rose to the close, finishing up 3% as traders bought into issues beaten down in recent market reverses.

The benchmark Nikkei 225 rose 776.42 to 26,992.21, as gaining issues swamped 224 to one.

Leading the thick upside were conglomerate ITOCHU (ITOCY, 8001:Tokyo), up 8.3%, followed by Nippon Sheet Glass (NPSGY, 5202:Tokyo), up 7.8%, and then conglomerate Marubeni (MARUY, 8002:Tokyo), up 7.1% after reporting the sale of a grain business subsidiary.

The lone declining issue was shipping line Kawaskai Kisen Kaisha (KAKKF, 9107:Tokyo), off 1%.

In economic news, the Tokyo core consumer price index (CPI), which excludes fresh foods, rose 2.8% in September from a year ago, reported the Statistics Bureau.

In other news, new car sales in Japan rose 24.1% in September year-over-year, reported The Mainichi newspaper.

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