Japan Market extends gain on positive earnings, cheaper yen

Japan share market finished higher for second session in row on Tuesday, 04 August 2020, as investor sentiment was lifted by following Wall Street's upbeat lead, some solid domestic corporate earnings results, and a cheaper yen against the dollar.

At closing bell, the 225-issue Nikkei Stock Average advanced 378.28 points, or 1.7%, to 22,573.66. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 32.62 points, or 2.14%, at 1,555.26.

All 33 industry category of Topix index inclined, with Air Transportation, Land Transportation, Marine Transportation, Iron & Steel, Textiles & Apparels, Transportation Equipment, Real Estate, and Rubber Products issues being notable gainers.

 

Shares of food makers were boosted by favorable earnings reports released the previous day amid rising demand from people who stay home to avoid coronavirus infections.

Shares of Kikkoman surged 705 yen, or 14.1%, to a daily limit high of 5,700 yen following the soy sauce maker's stronger-than-expected April-June earnings.

Shares of Maruha Nichiro soared 246 yen, or 11.8%, to 2,323 yen after the fishery company on Monday upgraded its earnings projection for the first half through September.

CURRENCY: The Japanese yen traded at 105.92 per dollar after weakening from levels around 105.6 against the greenback yesterday.

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