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Nikkei Climbs on Rate Cut, RetailTokyo, 2 Sep (ONA) — The Nikkei index of Japanese stocks rose today, surpassing a two-day decline, as investor sentiment improved due to expectations of a Federal Reserve interest rate cut and positive sales reports from major retailers.
The Nikkei 225 struggled to find direction, falling as much as 0.25 percent at one point during the session, but ended the day up 0.3 percent at 42,310.49 points. The broader Topix index gained 0.6 percent.
Shares of Takashimaya rose 3.3 percent, while J. Front Retailing gained 4.3 percent, and Isetan Mitsukoshi, which reduced its monthly sales decline, advanced 5.9 percent.
The biggest losers on the index were online retailer Mercari, which lost 4.8 percent, followed by Furukawa Electric, which declined 3.4 percent. — Ends/AH
