Don’t miss the latest developments in business and finance.

Japan Nikkei extends gain on weaker yen

Image
Capital Market
Last Updated : Oct 11 2021 | 6:31 PM IST
Japan stock market finished higher for third straight session on Monday, 11 October 2021. As investos continued bargain buying on the back of yen depreciation to upper 112 level against greenback backed by rises in U.S. long-term interest rates. Meanwhile, sentiments also underpinned after Prime Minister Fumio Kishida's comment denying an early financial income tax hike.

At closing bell, the 225-issue Nikkei Stock Average advanced 449.26 points, or 1.6%, to 28,498.20. The broader Topix index of all First Section issues on the Tokyo Stock Exchange climbed up 34.73 points, or 1.77%, to 1,996.58.

Trading volume turnover on the main section stood at 1.19 billion shares worth 2.70 trillion yen, as compared yesterday's volume turnover of 1.35 billion shares worth 3.2 trillion yen.

Total 32 of 33 industry groups ended higher along with the Topix, with best performing issues were Marine Transportation (up 3.7%), followed by Air Transportation (up 3.6%), Mining (up 3.2%), Transportation Equipment (3%), Glass & Ceramics Products (up 2.7%), and Oil & Coal Products (up 2.6%).

Shares of exporters climbed up after the yen weakened to upper 112 lever against the U.S. dollar. Among exporters, Honda Motor, Toyota Motor, Nissan Motor, Mitsubishi Motors and Panasonic jumped 2-7%. Sony surged 4.4% on reports that it might build a new chip plant with TSMC in Japan.

CURRENCY NEWS: The Japanese yen traded at 112.89 per dollar, having weakened late last week from below 111.6 against the greenback.

Powered by Capital Market - Live News

Also Read

First Published: Oct 11 2021 | 3:15 PM IST

Next Story