Japan Stocks end with gains

Japan stock market finished session higher on Monday, 07 June 2021, extending gains from the previous session, as investors took cues from strong finish of Wall Street last Friday after weak U.S. employment data eased concerns that the Federal Reserve may bring forward the tapering of its monetary stimulus. Meanwhile, the unexpected acceleration with Japan's coronavirus vaccination program has also supported share prices

At closing bell, the 225-issue Nikkei Stock Average advanced 77.72 points, or 0.27%, to 29,019.24. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 1.66 points, or 0.08%, to 1,960.85.

Trading volume turnover in the 1st section decreased to 945 million shares from 1,056 million shares on previous session. Trading value turnover decreased to 2,191.03 billion yen from 2,367.86 billion yen on previous session.

Total 21 sectors of 33 sectors sub-indexes on the Tokyo exchange were higher, with Marine Transportation, Services, Information & Communication, Precision Instruments, Fishery, Agriculture & Forestry, Construction, and Real Estate sectors being notable gainers, while Iron & Steel, Banks, Machinery, and Transportation Equipment issues were notable losers.

Shares of golf-related issues climbed after Filipino-Japanese teenager Yuka Saso won the U.S. Women's Open on Sunday, raising hopes it may lead to more people taking up the sport. Konami Holdings increased 7% to 7,210 yen. Mizuno advanced 2.2% to 2,364 yen, and Asics climbed 1.8% to 2,759 yen.

Semiconductor equipment manufacturer Shibaura Mechatronics rose 8.4% to 7,970 yen, after announcement to joining a project led by Taiwan Semiconductor Manufacturing Co. to develop chip-making technology in Japan.

ECONOMIC NEWS: Japan Leading Index Rises To Highest Level In 7 Years In April- Japan's leading index, which measures the future economic activity, grew to 103.0 in April from 102.4 in March, preliminary data from the Cabinet Office showed on Monday. The latest reading was the highest since March 2014, when it was 103.4. The coincident index increased to 95.5 in April from 92.9 in the previous month. This was the highest since November 2019. The lagging index rose to 93.7 in April from 93.5 in the prior month. This was the highest reading since April last year.

CURRENCY NEWS: The U.S. dollar stayed in the mid-109 yen range after falling from the lower 110 yen zone Friday as declines in long-term U.S. bond yields fueled expectations for a narrower interest rate gap between the United States and Japan. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.261 following a recent decline from above 90.4. The Japanese yen traded at 109.55 per dollar, after strengthening late last week from above 110.1 against the greenback.

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