At closing bell, the 225-issue Nikkei Stock Average advanced 219.58 points, or 0.78%, to 28,317.83. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 8.77 points, or 0.46%, to 1,904.69.
Total 19 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange were up, with Services, Precision Instruments, Information & Communication, Transportation Equipment, and Pharmaceutical sectors being notable gainers, while Mining, Oil & Coal Products, Rubber Products, Insurance, and Banks sectors were notable losers.
Two of Japan's three major nonlife insurance companies recorded year-on-year growth in their consolidated net profits in fiscal 2020, which ended in March. The growth partly reflected lower auto insurance payments following a drop in the number of traffic accidents amid the stay-at-home trend due to the spread of the novel coronavirus.
ECONOMIC NEWS: Japan Manufacturing PMI Slows To 52.5 In May-Japan manufacturing sector continued to expand in May, with a survey record manufacturing PMI score of 52.5, the latest survey from Markit Economics revealed on Friday. That's down from 53.6 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Both output and new order growth eased in the latest survey period. The survey also showed that the services PMI eased to 45.7 from 48.3 in April and the composite fell to 48.1 from 51.0.
CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.819 off levels above 90 seen earlier in the week. The Japanese yen traded at 108.62 per dollar, stronger than levels above 109.2 against the greenback seen earlier this week.
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