Japan Market ends 0.66% up

Japan stock market finished session higher on Friday, 25 June 2021, on following an upbeat lead from Wall Street overnight on hopes that recovery of the world's largest economy will accelerate after U.S. President Joe Biden agreed with a bipartisan group of senators on a roughly $1 trillion infrastructure deal. However, market gains capped onconcerns over Japan's rising COVID-19 cases ahead of the Olympics to be held in the capital in less than a month.

At closing bell, the 225-issue Nikkei Stock Average was up 190.95 points, or 0.66%, to 29,066.18. The broader Topix index of all First Section issues on the Tokyo Stock Exchange grew 15.55 points, or 0.8%, to 1,962.65. For the week, the Nikkei gained 0.35%

Trading volume turnover in the 1st section increased to 904 million shares from 842 million shares in previous session. Trading value turnover increased to 2,142.25 billion yen from 1,947.54 billion yen in previous session.

Total 30 of 33 sectors sub-indexes on the Tokyo exchange ended higher, with top gainers were Iron & Steel (up 3.3%), Mining (up 2.2%), Nonferrous Metals (up 1.6%), Chemicals (up 1.5%),Electric Appliances (up 1.3%), Machinery (up 1.2%), and Oil & Coal Products (up 1.%) sectors, while worst performers were Marine Transportation (down 1%) and Precision Instruments (down 0.2%) sectors.

Steelmakers notably gained. Nippon Steel climbed 4.4%, Kobe Steel rose 4.8%, and JFE Holdings advanced 4.2%.

Technology stocks also advanced, with Tokyo Electron rising 0.7%, Advantest jumping 1.5%, Fanuc gaining 1.7%.

Shares of Panasonic jumped 4.9% as a filing made by the conglomerate showed it had sold its entire stake in U.S. electric vehicle giant Tesla Inc. by March for about 400 billion yen ($3.6 billion) to invest the proceeds in growth areas.

Toshiba ended 0.62% lower on uncertainty over its management as shareholders voted out its board chairman, Osamu Nagayama, and another director at its annual general meeting following a governance scandal.

CURRENCY NEWS: The Japanese yen traded at 110.75 per dollar, still weaker than levels below 110.4 seen against the greenback earlier in the trading week.

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