Asian stocks soar on Tokyo's Olympics win

Asian stocks have soared, led by Japan's Nikkei, as investor confidence was boosted by Tokyo winning the race to host the 2020 Olympics.

Sentiment was also helped by an upwards revision to Q2 GDP for the Japanese economy. The annualised estimate was revised up to 3.8%, compared to an expected figure of 2.6%. The Nikkei index has jumped 2.4% on the positive news to 14,195 and the broader Topix is up 2.1% to 1,172, while the yen has slid against the dollar to 99.7. According to Japan's Prime Minster Shinzo Abe, the Olympics will spur construction and help beat deflation, delivering stronger economic growth. Mitsubishi saw some of the largest gains, rising 5.5% on the hopes it would benefit from Olympics-related projec...