At closing bell, the 225-issue Nikkei Stock Average advanced 465.13 points, or 1.58%, to 29,854. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 13.98 points, or 0.71%, to 1,971.62.
Total 15 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange traded lower, with Electric Power & Gas, Oil & Coal Products, Wholesale Trade, Fishery, Agriculture & Forestry, Securities & Commodities Futures, and Banks issues being notable losers, while Electric Appliances, Information & Communication, Pulp & Paper, Machinery, and Mining issues were notable gainers.
Shares of semiconductor equipment makers advanced as Biden's eight-year investment plan to create millions of jobs and rebuild infrastructure. Chipmaking gear-maker Tokyo Electron and chip-testing device manufacturer Advantest climbed 3.00% and 4.17%, respectively.
Industrial robot-maker Fanuc continued to attract buying on expectations for increased capital investment, after the Bank of Japan's tankan quarterly business sentiment survey for March pointed to a boost in investment plans.
The financial sector weakened, with Mizuho Financial Group falling 0.8% after a report said the bank may have lost around $90 million in the Archegos stocks-sale saga. A fire sale late last month by Archegos Capital Management, which looks after the fortune of businessman Bill Hwang, has left major global banks from Japan's Nomura to Switzerland's Credit Suisse counting losses.
Shares of department store operators J. Front Retailing and Isetan Mitsukoshi lost ground on rising concerns over a novel coronavirus resurgence after the government Thursday decided to implement pre-emergency countermeasures in some parts of the country.
Also Read
CURRENCY NEWS: The Japanese yen traded at 110.53 per dollar, weakening from levels below 109.8 against the greenback earlier in the week.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content