Nikkei hits 17-month closing high after Macron victory
May 8, 2017
Tokyo- The benchmark Nikkei average surged to hit a 17-month closing high on the Tokyo Stock Exchange on Monday, following the victory of centrist Emmanuel Macron, a pro-European Union candidate, in the French presidential runoff on Sunday.
The 225-issue Nikkei closed up 450.00 points, or 2.31 percent, from last Tuesday at 19,895.70, its highest finish since 19,939.90 on Dec. 3, 2015. On Tuesday, it gained 135.18 points.
The Tokyo market was closed Wednesday through Friday for national holidays.
The TOPIX index of all first-section issues ended up 35.56 points, or 2.29 pct, at 1,585.86, after climbing 10.53 points the previous trading day.
Both indexes rose for the third consecutive market day.
Stocks attracted hefty purchases from the beginning of Monday's trading since investor worries about European politics eased after Macron beat his far-right, anti-EU rival Marine Le Pen in the French election, brokers said. (Jiji Press)
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