Tokyo stocks end week with strong rally

Tokyo stocks surged nearly four percent on Friday, tracking rallies on Wall Street over a massive US economic relief package to temper the impact of the coronavirus.

The benchmark Nikkei 225 index jumped 3.88 percent, or 724.83 points, to 19,389.43, ending the week 17.1 percent higher.

The broader Topix index advanced 4.30 percent, or 60.17 points, to 1,459.49. It climbed 13.7 percent over the week.

The Japanese government's plans to fire additional stimulus to counter the impact from the disease provided further relief to investors, analysts said.

The dollar fetched 108.36 yen in Asian trade, against 109.44 yen in New York on Thursday.

"There were concerns due to the request to refrain from going out in Tokyo, but shares rose, helped by US rallies," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary.

Tokyo's governor on Wednesday urged residents to stay home this weekend, warning of a possible "explosion" of the coronavirus in the capital.

In Tokyo, major shares were higher across the board, with Toyota gaining 4.62 percent to 7,029 yen and Sony 4.50 percent up at 6,688 yen.

The PlayStation manufacturer said in a press release after the market close that the effects of the coronavirus "could be large enough to eliminate" the increase in earlier projected profits for the year ending in March.

The company said the impact is expected to continue for the fiscal year from April to March 2021.

It added that delays in account closing procedures and other operations would make it difficult to deliver its earning announcement "as planned".

Uniqlo casual wear operator Fast Retailing rose 1.43 percent to 44,430 yen and chip-making equipment manufacturer Tokyo Electron jumped 5.06 percent to 21,350 yen.

In the US, the Dow surged 6.4 percent, for a third straight gain, after the economic relief package cleared the Senate, helping offset data showing a record number of new unemployment claims.

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