Japan Nikkei extends gains on upbeat offshore lead

Japan stock market finished higher for second session in row on Tuesday, 13 July 2021, as risk sentiments encouraged by tracking gains on Wall Street overnight and on optimism over corporate earnings growth.

At closing bell, the 225-issue Nikkei Stock Average advanced 149.22 points, or 0.52%, to 28,718.24. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 14.31 points, or 0.73%, to 1,967.64.

Trading volume turnover in the 1st section decreased to 957 million shares from 1,035 million shares in previous session. Trading value turnover decreased to 2,180.12 billion yen from 3,380.31 billion yen in previous session.

Total 29 of 33 sectors sub-indexes on the Tokyo exchange ended higher, with top performers were Mining (up 3.2%), Other Financial Business (up 2%), Insurance (2%), Metal Products (up 2%), Glass & Ceramics Products (up 1.8%), Marine Transportation (up 1.8%), Electric Power & Gas (up 1.8%), Banks (up 1.5%), and Securities & Commodities Futures (up 1.5%) issues, while Land Transportation (down 0.5%) issue was worst performer.

Shares of drugstore chain operator Cosmos Pharmaceutical jumped 9.3% and home Builder Tama Home surged 17.6% after posting upbeat earnings.

Shares of liquor store company Kakuyasu tumbled 3.3% as it withdrew its earnings outlook for the current year through March 2022.

CURRENCY NEWS: The U.S. dollar stayed firm in the lower 110 yen range on Tuesday. The Japanese yen traded at 110.34 per dollar, still weaker than levels below 110 seen against the greenback last week.

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