TOKYO, Dec 19 (AFP): The Tokyo market appears to have shrugged off fears about the Russian ruble crisis, with investors bullish as they prepared for the last few days of trading this year, analysts said.
While plunging oil prices and the Russian currency crisis threatening to deliver investors a lump of coal, spirits remained high after the US Federal Reserve this week hinted that it was on track for a mid-2015 interest rate hike as data continues to show a recovery in the world's number one economy.
That helped lift the dollar against the yen, boosting shares of Japanese exporters whose profitability benefits from a weak currency.
Trading in the coming week will likely be thin, with many international players leaving the market for the Christmas break.
The Tokyo Stock Exchange will be closed Tuesday for a national holiday, the emperor's birthday.
Investors will be eyeing a slate of key data, including Japanese inflation and industrial production, at the end of the week.
"If worries recede that (the Fed) might hike rates early, while the US economy sees stable growth and low inflation, it is only a matter of time before the Dow Jones Industrial Average will renew its recent highs," SMBC Nikko Securities said in a note.
Tokyo market rides the bull into Christmas
FE Team | Published: December 20, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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