Japan Market extends gain

Japan share market finished session higher Tuesday, 06 October 2020, as investors' appetite for risk assets continued on easing fears over political uncertainty after U.S. President Donald Trump's returned to the White House from COVID-19 treatment and on hopes of a giant new U.S. stimulus package. However, market gains capped on caution before a speech by Federal Reserve Chair Jerome Powell on the outlook for the economy.

At closing bell, the 225-issue Nikkei Stock Average advanced 121.59 points, or 0.52%, to 23,433.73. The broader Topix index of all First Section issues on the Tokyo Stock Exchange climbed up 8.50 points, or 0.52%, to 1,645.75.

 

Total 28 issues of the 33 industry category of Topix index ended into black territory, with Rubber Products, Insurance, Oil & Coal Products, Nonferrous Metals, Mining, Iron & Steel, Glass & Ceramics Products, and Pharmaceutical issues being notable gainers.

Investors took cues from Wall Street's positive finish overnight when main indexes rose sharply on stimulus hopes and on news President Trump would return to the White House after a three-night hospital stay.

Shares of Panasonic Corp gained more than 2% and Toyota Motor Corp ended 0.71% higher after their joint battery venture said it would establish a production line in Western Japan to manufacture lithium-ion power units for hybrid vehicles beginning in 2022.

shares of Hino Motors jumped 6.36% after Toyota said on Monday they would jointly develop a heavy-duty fuel cell electric truck for the North American market.

CURRENCY NEWS: The Japanese yen changed hands at 105.55 per dollar after weakening from levels below 105.6 yesterday.

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