At closing bell, the 225-issue Nikkei Stock Average surged 461.27 points, or 1.75%, to 26,847.90. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 38.86 points, or 2.09%, to 1,899.62.
Total 30 of 33 TSE issues closed up, with top gaining sectors were Iron & Steel, Mining, Transportation Equipment, Glass & Ceramics Products, and Nonferrous Metals.
In economic news, Japan's retail sales posted 0.9% higher in March than a year earlier and rose 2% from February, coming in at 13.628 trillion yen, reported the Ministry of Economy, Trade and Industry. For the first quarter of 2022, retail sales fell 0.8% on quarter but rose 0.4% on year at 37.389 trillion yen. On a yearly basis, retail sales jumped 0.9% following the downwardly revised 0.9% decline in February
Japan industrial production was up a seasonally adjusted 0.3% on month in March, according to the Ministry of Economy, Trade and Industry preliminary reading. That was down from 2.0% in February. On a yearly basis, industrial production slipped 1.7%, following the 0.5% increase in the previous month.
CURRENCY NEWS: The dollar shot up above 131 yen for the first time since April 2002 on Thursday, after the Bank of Japan announced on the day a decision to keep its ultra easy monetary policy unchanged. At 5 p.m. in Tokyo, the dollar stood at 130.59-59 yen, up from 127.98-99 yen at the same time Wednesday.
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