Japan Market hits more than three-month high

Japan share market finished session at more than three-month high on Tuesday, 02 June 2020, as investors sentiments was lifted by tracking a positive lead from Wall Street overnight and the re-opening of Japan's economy after recent declines in coronavirus infections. At closing bell, the 225-issue Nikkei Stock Average rose 1.19%, or 263.22 points, to 22,325.61. The broader Topix index of all First Section issues on the Tokyo Stock Exchange advanced 1.21%, or 18.93 points, to 1,587.68.

The Tokyo market maintained buying sentiment during the day after firm opening inspired by tracking a positive lead from Wall Street overnight and the re-opening of Japan's economy after recent declines in coronavirus infections.

Wall Street's advanced overnight on expectations that the U.S. economic revival is gathering pace after the lockdowns and after U.S. manufacturing data suggested the worst of the sector's virus-related slump may be over.

In Japan's capital, businesses such as gyms, theatres and retailers not selling daily essentials were allowed to open their doors to the public again from Monday, as Tokyo entered its second phase of easing measures amid the coronavirus pandemic

However, market gains capped as some investors remain cautious due to uncertainty caused by mass protests in the United States against police brutality and diplomatic tension between Washington and Beijing over civil liberties in Hong Kong.

The largest %age gainers in the index were printer and medical imaging company Konica Minolta Inc., up 6.11%, followed by beer-maker Asahi Group Holdings, gaining 5.52%, and industrial machinery-maker IHI Corp., up by 5.47%.

The largest %age losses in the index were drugmaker Daiichi Sankyo Co.,down 4.38%, followed by Astellas Pharma Inc., losing 1.88%, and Kansai Electric Power Co. Inc., down by 1.27%.

CURRENCY: The dollar fetched 107.70 yen in Asian afternoon trade, against 107.58 yen in New York yesterday

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