Japan Market closes mixed on yen's softness, profit-taking

Japan share market finished session mixed on Friday, 14 August 2020, as buying on a weaker yen was offset by profit-taking following the market's recent rise and uncertainties over U.S. stimulus and intensifying China-U.S. tensions.

At closing bell, the 225-issue Nikkei Stock Average advanced 39.75 points, or 0.17%, to 23,289.36. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 0.77 point, or 0.05%, at 1,623.36.

Total 21 issues of the 33 industry category of Topix index dived into negative territory, with Real Estate, Mining, Transportation Equipment, Construction, Banks, and Nonferrous Metals issues being notable losers, while Services, Pharmaceutical, Precision Instruments, and Insurance issues were notable gainers.

Pharmaceutical stocks were up after reports that the U.S. government and Moderna Inc. Agreed this week to supply 100 million doses of its prospective coronavirus vaccine. Japanese drug makers have also been underpinned following the government here earlier this month saying it has agreed with with British drugmaker AstraZeneca Plc to receive 120 million doses of a potential coronavirus vaccine being developed with the University of Oxford. Similarly, Japan has agreed with Pfizer Inc. and its German partner BioNTech SE to receive 120 million doses of their potential vaccine, providing its development proves successful. Eisai added 2.7%, while drug maker Daiichi Sankyo rose 1.4%.

Fujifilm Holdings advanced 2.8%, after the company said it expects data from a clinical trial of its Avigan drug on COVID-19 patients to be ready in about a month. Fujifilm also got a boost after announcing the previous day its operating profit for the April-June period came in ahead of median market expectations.

Shares of interest rate-sensitive companies fell after rise in bond yields this week. Softbank fell 1.5%, while realtor Mitsui Fudosan and Mitsubishi Estate dropped 3.1% and 2.3%, respectively.

CURRENCY: The Japanese yen changed hands at 106.74 against the greenback, strengthening from an earlier level around 107.03

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