Japan Stocks jump on bargain hunting

Japan stock market finished higher for the first time in five sessions on Friday, 02 July 2021, as investors chased for bottom fishing across the board on following advances on Wall Street overnight and the yen's softer tone versus the U.S. dollar. However, market gains capped by mounting concerns over surging COVID-19 cases in Japan's capital and ahead of key U.S. economic data due out later in the day.

At closing bell, the 225-issue Nikkei Stock Average inclined 76.24 points, or 0.27%, to 28,783.28. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 17.10 points, or 0.88%, to 1,956.31.

 

Trading volume turnover in the 1st section increased to 904 million shares from 833 million shares in previous session. Trading value turnover increased to 2,073.38 billion yen from 1,986.21 billion yen in previous session.

Total 32 of 33 sectors sub-indexes on the Tokyo exchange ended higher, with top gainers were Rubber Products (up 2.2%), Mining (up 2.2%), Pulp & Paper (1.9%), Transportation Equipment (up 1.6%), Construction (up 1.4%), Insurance (up 1.4%), Wholesale Trade (up 1.3%), Warehousing & Harbor Transportation Services (up 1.2%), Banks (up 1.2%), and Real Estate (up 1.2%) issues.

CURRENCY NEWS: The dollar moved on a firmer note around 111.60 yen on Friday. At 5 p.m., the dollar stood at 111.56-57 yen, up from 111.27-27 yen on Thursday. The euro was at 131.93-93 yen, up from 131.83-84 yen.

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