Nikkei 225 jumps 564 points after Japan’s GDP spurts 12.70 percent

Nikkei 225 jumps 564 points after Japan’s GDP spurts 12.70 percent

Lola Evans
15 Feb 2021, 16:55 GMT+10

  • A spectacular spurt in the Japanese economy in the December quarter spurred a major rise in Japan’s equity markets on Monday.
  • With Hong Kong and Chinese markets closed for the Lunar New Year, all attention turned to Tokyo.
  • The Cabinet Office on Monday surprised markets by advising Japan’s economy grew by an annualised 12.70 percent during the quarter to 31 December.

SYDNEY, NSW, Australia – A spectacular spurt in the Japanese economy in the December quarter spurred a major rise in Japan’s equity markets on Monday.

With Hong Kong and Chinese markets closed for the Lunar New Year, all attention turned to Tokyo.

The Cabinet Office on Monday surprised markets by advising Japan’s economy grew by an annualised 12.70 percent during the quarter to 31 December.

The Nikkei 225 jumped 564.08 points or 1.91 percent on the news, to close at 30,084.15.

Down Under, the Australian All Ordinaries managed a 68.40 points or 0.97 percent rise to 7,149.70.

The U.S. dollar was mixed during Asian trading Monday. The Japanese yen slipped to 105.11. The British pound strengthened to 1.3893. The euro ticked up to 1.2138. The Swiss franc was little changed at 0.8912.

The Canadian dollar edged up to 0.7783. The Australian dollar was sharply higher at 0.7783 as was the New Zealand dollar at 0.7239.

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