Japan Nikkei surges 1.1%

Japan stock market finished session higher on Friday, 12 November 2021, as investors took a cue from overnight gains in the Wall Street. Meanwhile, yen depreciation to lower 114 level against greenback and growing expectations of a recovery in auto production also boosted risk sentiments.

At closing bell, the 225-issue Nikkei Stock Average advanced 332.11 points, or 1.13%, to 29,609.97. The broader Topix index of all First Section issues on the Tokyo Stock Exchange grew 26.30 points, or 1.31%, to 2,040.60. Trading volume turnover on the main section stood at 1.32 billion shares worth 2.94 trillion yen.

Total 32 of 33 Topix industry groups ended up, with top performing issues were Real Estate (up 2.8%), Iron & Steel (up 2%), Mining (up 1.9%), Construction (up 1.8%),and Information & Communication (up 1.8%) issues, while bottom performing issues included Oil & Coal Products (down 0.3%) issue.

Shares of automakers advanced, led by Toyota Motor Corp, up 2.4%, on growing expectations of a recovery in auto production after the company said that operations at all of its 14 plants in Japan would return to normal in December for the first time in seven months after being forced to trim output due to supply chain disruptions. Honda Motor gained 1.3% and Mazda Motor ended up 1.2%.

Kikkoman shares increased 3.5% after the firm announced to raise prices for soy sauce for the first time since 2008 due to rising raw material costs.

CURRENCY NEWS: The Japanese yen depreciated to lower 114 level against greenback on Friday. The Japanese yen traded at 114.02 per dollar, struggling to recover after weakening from below 113.5 against the greenback earlier in the week.

Powered by Capital Market - Live News