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Japan Market extends gain on vaccine news

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Capital Market
Japan share market finished higher for the third straight trading session on Monday, 24 May 2021, with issues sensitive to global economic trends advancing as the start of mass vaccinations against the novel coronavirus in Japan boosted market sentiment.

At closing bell, the 225-issue Nikkei Stock Average advanced 46.78 points, or 0.17%, to 28,364.61. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 8.35 points, or 0.44%, to 1,913.04.

Gainers outnumbered losers 1,394 to 715 while 83 issues were unchanged in the TSE first section. Volume shrank to 993 million shares from Friday's 1.037 billion shares.

 

Total 30 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange were up, with Marine Transportation, Air Transportation, Mining, Banks, and Insurance sectors being notable gainers, while Pharmaceutical and Information & Communication sectors were notable losers.

Stocks attracted buying from the outset of Monday's trading, as the market mood brightened by Japan opening two mass vaccination centers in Tokyo and Osaka on Monday. The move comes as the government here tries to speed up its sluggish vaccination program, the slowest among advanced countries with just 4% of its 126 million populations having received their first jabs.

Shares of shipping firms gained on expectations of increased demand, with Mitsui O.S.K. Lines climbing 4.6%, Nippon Yusen jumping 5.6%, while Kawasaki Kisen soared 7.6%.

CURRENCY NEWS: The dollar gave up earlier gains to move around 108.70 yen in Tokyo trading on Monday.

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First Published: May 24 2021 | 5:00 PM IST

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