Japan Market ends higher

Japan share market finished session higher on Thursday, 06 May 2021, as investors chased for bottom fishing across the board after sell-offs before the Golden Week holiday period in Japan when investors were too cautious about the market outlook. Japanese financial markets were closed from Monday to Wednesday for the Golden Week holiday.

Market risk sentiments were also supported by minutes from the Bank of Japan's meeting on March 18 and 19 revealed that policymakers agreed the central bank's priority should be to keep the yield curve stably low while the economy remains under the strain caused by the COVID-19 pandemic.

At closing bell, the 225-issue Nikkei Stock Average advanced 518.74 points, or 1.8%, to 29,331.37. The broader Topix index of all First Section issues on the Tokyo Stock Exchange increased 29.16 points, or 1.54%, to 1,927.40.

Shares of material makers led market gains, with steel makers JFE Holdings and Nippon Steel surging 8% and 7.5%, respectively. Paper maker Oji Holdings jumped 7%. Technology shares weighed on the indexes, with Advantest falling 1.5%. Nissan Motor rose after the carmaker sold its roughly 1.5% stake in German carmaker Daimler.

CURRENCY NEWS: The U.S. dollar lost ground on Thursday trade. The dollar index, which measures the greenback against a basket of its peers, fell 0.16% to 91.160. The Japanese yen changed hands at 109.33 per dollar, weakening from an earlier level around 109.14.

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