Japan Nikkei gains ahead of record stimulus approval

Japan share market finished session higher on Friday, 19 November 2021, as risk sentiments boosted up on the expected approval of a record economic stimulus package later in the day by Japan's Cabinet to shore up its pandemic recovery.

Investors are on the lookout for Prime Minister Fumio Kishida expected announcement of a record 55.7 trillion yen ($490 billion) stimulus package in Japan later on Friday,

At closing bell, the 225-issue Nikkei Stock Average advanced 147.21 points, or 0.5%, to 29,745.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 9.01 points, or 0.44%, to 2,044.53. Trading volume turnover on the main section stood at 1.22 billion shares worth 2.82 trillion yen.

Defense-related stocks rose as the planned stimulus included additional large-scale budget outlays for national defense. Defense equipment maker Ishikawa Seisakusho surged 5% and airborne measuring instrument maker Tokyo Keiki added 3.3%.

ECONOMIC NEWS: Japan Consumer Prices Up 0.1% On Year In October- Japan overall consumer prices were up 0.1% on year in October, the Ministry of Internal Affairs and Communications said on Friday, down from 0.2% in September. Core consumer prices, which exclude volatile food prices, also rose an annual 0.1%. Individually, prices were up for food, housing, fuel, furniture, education and recreation; prices were down for clothing, medical care and communications. On a seasonally adjusted monthly basis, overall inflation slipped 0.3% and core CPI dipped 0.1%.

CURRENCY NEWS: Japanese yen depreciated to mid114 range against greenback on Friday. The Japanese yen weakened slightly, trading at 114.33 per dollar.

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