At closing bell, the 225-issue Nikkei Stock Average advanced 59.53 points, or 0.26%, to 23,110.61. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 2.88 points, or 0.18%, at 1,613.73.
Total 22 issues of the 33 industry category of Topix index inclined into positive territory, with Real Estate, Other Financial Business, Air Transportation, Rubber Products, Land Transportation, and Iron & Steel issues being notable gainers, while Pulp & Paper, Precision Instruments, Electric Appliances, and Machinery issues were notable losers.
Tokyo shares opened lower as the data showed Japan total value of core machine orders was down 7.6% on month in June and Japan's exports in July declined 19.2% as compared with a year ago. But investors started buying on dips as investor appetite for stocks seen trading at a discount increased and as the yen depreciation against greenback, helping the Nikkei index close in positive territory.
ECONOMIC NEWS: Japan Core Machine Orders Down 7.6% On Month In June--Japan total value of core machine orders was down 7.6% on month in June, coming in at 706.6 billion yen, the Cabinet Office said on Wednesday, following the 1.7% increase in May. On a yearly basis, core machine orders sank 22.5%, following the 16.3% slide in the previous month. For the second quarter of 2020, orders were down 12.9% on quarter and 19.1% on year to 2,224.3 billion yen. For the third quarter, orders are forecast to slip a.9% on quarter and 15.5% on year.
Japan Posts Y11.641 Billion Trade Surplus In July-Japan posted a merchandise trade surplus of 11.641 billion yen in July, the Ministry of Finance said on Wednesday, following the 268.8 billion yen shortfall in June. Exports slumped 19.2% on year, following the 26.2% drop in the previous month. Imports were down an annual 22.3% following the 14.4% slide a month earlier.
CURRENCY: The Japanese yen traded at 105.40 per dollar following an earlier high of 105.09 against the greenback.
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