Japan Stocks end mixed

Japan share market finished session mixed on Tuesday, 01 June 2021, as hopes for progress in the COVID-19 vaccination program in Japan was offset by selling on the yen's strength against the U.S. dollar and the Japanese government extension of the COVID-19 state of emergency in Tokyo, Osaka and seven other prefectures by three weeks to 20 June 2021. Adding to a downbeat mood, official data showed that business investment by Japanese companies dropped 7.8% in the January-March period from a year earlier.

At closing bell, the 225-issue Nikkei Stock Average declined 45.74 points, or 0.16%, to 28,814.34. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 3.20 points, or 0.17%, to 1,926.18.

Trading volume turnover in the 1st section decreased to 907 million shares from 1,020 million shares on Monday. Trading value turnover decreased to 2,044.29 billion yen from 2,241.55 billion yen on Monday.

Total 21 sectors of 33 sectors sub-indexes on the Tokyo exchange were higher, with Mining, Marine Transportation, Transportation Equipment, Textiles & Apparels, Metal Products, Oil & Coal Products, Rubber Products, and Banks sectors being notable gainers, while Iron & Steel, Pharmaceutical, Information & Communication, and Services issues were notable losers.

ECONOMIC NEWS: The manufacturing sector in Japan continued to improve in May, the latest survey from Jibun Bank revealed on Tuesday with a revised manufacturing PMI score of 53.0. That's up from 52.5 in April and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Capital spending by Japanese companies fell 7.8% to 14.47 trillion yen in the January-March quarter from a year earlier, according to the Finance Ministry data released on Tuesday. On a seasonally adjusted basis, capital expenditure fell 0.4% quarter-on-quarter.

CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.751 falling below the 90 level again. The Japanese yen traded at 109.46 per dollar, stronger than levels above 110 against the greenback seen late last week.

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