Tokyo stocks climb, with Nikkei up 0.8%, buoyed by rate hike speculation and pension fund yield plans.

Tokyo stocks rose on Monday, with the Nikkei up 0.8% to 38,513.02, driven by speculation of a rate hike by the Bank of Japan and plans by the Government Pension Investment Fund (GPIF) to raise its yield target by 0.2%. This boosted banking and insurance stocks, while the broader Topix Index rose 1.27% to 2,714.72. Despite this, Fast Retailing fell due to online criticism in China, and Shiseido suffered as it downgraded its profit outlook.

December 02, 2024
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