Japan: Nikkei extends gain on Tuesday

Japanese share market finished session slightly higher on Tuesday, 1 November 2022, as investors opted a wait-and-see attitude ahead of the US central bank decision on Wednesday.

At closing bell, the 225-issue Nikkei Stock Average index advanced 91.46 points, or 0.33%, to 27,678.92. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 9.07 points, or 0.47%, to 1,938.50.

Total 21 of 33 TOPIX sectorial indices advanced, with Wholesale Trade (up 3.3%), Iron & Steel (up 2%), Foods (up 1.9%), Air Transportation (up 1.8%), and Mining (up 1.8%) issues being notable gainers, while Metal Products (down 3.2%), Marine Transportation (down 1.7%), and Electric Power & Gas (down 1.1%) were notable losers.

Among individual stocks, Toyota Corp shares tanked 1.9% after announcing that half-year net profit dropped 23%. However, the top-selling automaker kept its annual net profit forecast unchanged as the cheaper yen offsets supply-chain disruptions.

Sony Group rose 0.6%. After the closing bell, the conglomerate raised its annual net profit and sales forecasts, saying the weak yen had boosted its bottom line in several sectors.

Japan Airlines added 1%. After the closing bell, the company posted a net loss of 2.1 billion yen for April-September, but said it expects full-year net profit to March 2023 of 45 billion yen.

CURRENCY NEWS: The U.S. dollar fell to the upper 147 yen zone in the afternoon after being mostly in the lower 148 yen range as investors adjusted their positions hours before the Fed's two-day meeting, due to begin later in the day. At 5 p.m., the dollar fetched 147.92-94 yen compared with 148.70-80 yen in New York and 148.00-02 yen in Tokyo at 5 p.m. Monday.

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