Japan Nikkei closes slightly up

Japan stock market finished session slightly higher on Wednesday, 20 October 2021, as sentiment boosted by overnight advances in U.S. shares driven by major U.S. firms' upbeat earnings. However, market gains capped as investors fretted about slowing growth after the International Monetary Fund on Tuesday slashed its 2021 economic growth outlook for Asia and warned that supply chain disruptions, inflation pressures and a looming fresh wave of COVID-19 infections pose downside risks.

At closing bell, the 225-issue Nikkei Stock Average rose 40.03 points, or 0.14%, to 29,255.55. The broader Topix index of all First Section issues on the Tokyo Stock Exchange advanced 1.10 points, or 0.05%, to 2,027.67. Trading volume turnover on the main section stood at 1.11 billion shares worth 2.71 trillion yen.

Total 16 of 33 industry groups ended up along with the Topix, with best performing sectors were Air Transportation (up 3.1%), Land Transportation (up 1.8%), Securities & Commodities Futures (up 1.5%), Banks (up 1.2%), and Information & Communication (up 1.2%), while worst performing issues included Marine Transportation (down 3.3%), Rubber Products (down 2%), Nonferrous Metals (down 1.4%), Precision Instruments (down 1.1%), and Wholesale Trade (down 1%).

CURRENCY NEWS: The dollar advanced to levels mid 114 yen in Tokyo trading on Wednesday. The dollar stood at 114.34-35 yen, up from 114.02-06 yen on Tuesday. The euro was at 132.92-93 yen, up from 132.87-87 yen.

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