Business Standard

Japan Market rebounds 0.6%

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Capital Market
Japan stock market finished higher for first time in three consecutive sessions on Friday, 17 September 2021, as investors bargain buying sentiments lifted up on yen depreciation to upper 109 level against greenback and signs of falling new virus cases in the country.

At closing bell, the 225-issue Nikkei Stock Average advanced 176.71 points, or 0.58%, to 30,500.05. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 10.01 points, or 0.48%, to 2,100.17.

Trading volume on the main section stood at 1599 million shares worth 4.32 billion yen as compared yesterday's 1261 million shares worth 3.47 billion yen.

 

Total 25 of 33 industry groups inclined on the Topix, with major advancing issues were Marine Transportation (up 3.2%), Air Transportation (up 1.7%), Services (up 1.3%), Land Transportation (up 1.2%), Information & Communication (up 1.1%), and Warehousing & Harbor Transportation Services (up 1%), while worst performing sectors included Iron & Steel (down 3.6%), Nonferrous Metals (down 1.1%), and Real Estate (down 0.6%).

Shares of exporters were supported by the yen weakening against the dollar. Electronics manufacturer Sony Group gained 0.4% to 12,315 yen, while Fanuc was up 1.3% to 26,630 yen.

Shares of chip-related issues were also higher. Advantest climbed up 2.4% to 11,350 yen, Tokyo Electron rose 1.2% to 55,430 yen, and Taiyo Yuden advanced 1.9% to 7,660 yen.

Nippon Steel slumped 6% after unveiling plans to sell 300 billion yen ($2.7 billion) worth of convertible bonds.

CURRENCY NEWS: The US dollar rose slightly in the upper 109 yen range on Friday. The dollar fetched 109.94-95 yen compared with 109.70-80 yen in New York and 109.35-36 yen in Tokyo at 5 p.m. Thursday.

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First Published: Sep 17 2021 | 6:18 PM IST

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