Tokyo shares rise to new highs

<p>The Nikkei hits a new 15-year high.</p>

Tokyo stocks rose today (February 20th) to extend gains to a new 15-year high on earning prospects. Trading sentiment was boosted by recent optimism about an economic recovery, with the release of fresh strong trade data.

Investors are focusing on companies committed to growth and efficiency, lifted by recent efforts from the government to promote exports including the cheap yen. 

Toyota was up 0.8 per cent, while Canon added 0.3 per cent. Japan's benchmark Nikkei 225 rose 0.4 per cent to 18332.30, the highest level since May 2000.

Asian trading was quiet with most markets still closed for the Lunar New Year holidays. Gains were limited because concerns remained about Greece’s standoff with its European creditors. Greece asked for a loan extension, seeking a six-month assistance package, rather than a renewal of the existing deal. A proposal that Germany has already rejected. Australia's S&P/ASX 200 edged down 0.5 per cent to 5,873.80.

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.