Nikkei up on Wall Street lead

<p>Tokyo stocks were also boosted by a weaker yen.</p>

Japanese shares traded higher today (January 30th), boosted by a Wall Street rally and a weaker yen.

The Dow Jones industrial average gained one per cent yesterday after a rebound in crude oil prices and the release of upbeat earnings reports from US companies. The yen’s depreciation against the dollar also boosted sentiment.

Asian investors shrugged off a series of weak fresh data showing that in December, Japan's inflation rose 2.5 per cent from a year earlier, which is below expectations.

Growth in factory output was also below forecast, up one per cent from the previous month, while household spending fell more than anticipated, down 3.4 per cent on a year ago.

However, Japan's jobless rate fell to 3.4 per cent from 3.5 per cent in November.

The Nikkei closed 0.4 per cent up at 17,674.39, while the Topix finished 1.49 points higher at 1,415.07.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.