Japan Market rises on buying to secure dividends

Japan share market finished session higher on Monday, 28 September 2020,, 25 September 2020, as buying gathering steam in the wake of a continued gains in US markets last Friday and increased purchases ahead of the ex-dividend date on Tuesday.

However, market gains capped due to rising US-China tensions over technology issues after reports that the US has placed new restrictions on exports to Chinese chip-maker SMIC, in addition to the issues over Huawei. Meanwhile, a US federal judge late Sunday halted a politically charged ban ordered by the Trump administration on downloads of the popular video app TikTok, hours before it was to go into effect.

At closing bell, the 225-issue Nikkei Stock Average was up 307 points, or 1.32%, to 23,511.62. The broader Topix index of all First Section issues on the Tokyo Stock Exchange advanced 27.70 points, or 1.7%, to 1,661.93.

Toshiba Corp. shares tumbled 3.2% after Kioxia Holdings Corp., the world's second-largest flash memory chipmaker, said it would postpone plans for an initial public offering. Tokyo Electron and Advantest ended down around 1.8% each.

CURRENCY NEWS: The Japanese yen traded at 105.34 per dollar following an earlier low of 105.68 against the greenback.

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