Japan Market ends higher

Japan share market finished session higher on Tuesday, 14 February 2023, supported by tracking gains on Wall Street overnight, with shares of metal product, electric appliance and precision instrument issues led market rally.

However, market gains capped investors largely took a wait-and-see stance ahead of the U.S. inflation data due to release later in the day.

The 225-issue Nikkei Stock Average index added 175.45 points, or 0.64%, to finish at 27,602.77. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 15.42 points, or 0.78%, to 1,993.09.

Total 32 of 33 TSE sectors advanced, with Iron & Steel, Foods, Metal Products, Machinery, and Textiles & Apparels being notable gainers.

ECONOMIC NEWS: Japan's gross domestic product expanded a seasonally adjusted 0.2% on quarter in the fourth quarter of 2022, the Cabinet Office said on Tuesday following the downwardly revised 0.3% contraction in the third quarter (originally -0.2%). On an annualized basis, GDP added 0.6% following the downwardly revised 1% decline in the three months prior (originally -0.8%).

CURRENCY NEWS: Japanese yen appreciated to lower 132 level against greenback. The dollar stood at 132.01 yen in late Tokyo trading Tuesday, down 0.3% from 132.41 on Monday, after trading in the range of 131.79-132.47.

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