Japan Stocks extend gains to sixth day

Japan share market finished higher sixth straight session on Tuesday, 16 March 2021, as investors took heart from record closes on Wall Street overnight on heightened hopes for the U.S. economic recovery and yen depreciation to lower 109-level against greenback. However, market gains capped amid a wait-and-see mood before the start of the U.S. Federal Reserve's two-day policy-setting meeting later on Tuesday.

At closing bell, the 225-issue Nikkei Stock Average rose 154.12 points, or 0.52%, to 29,921.09. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 12.77 points, or 0.65%, to 1,981.50.

Total 24 out of 33 industry category of Topix index ended into positive territory, with Marine Transportation, Air Transportation, Real Estate, Information & Communication, and Retail Trade issues being notable gainers, whereas Iron & Steel, Banks, and Oil & Coal Products issues were notable losers.

The Tokyo market opened higher, with investors cheering advances in the Dow and the S&P 500 to new record closing highs amid growing optimism about the economic outlook amid progress on coronavirus vaccination efforts and the recent passage of a new $1.9 trillion stimulus bill.

However, market gains capped amid a wait-and-see mood before the start of the U.S. Federal Reserve's two-day policy-setting meeting later on Tuesday. Investors opted wait-and-see mood before the start of the U.S. Federal Reserve's two-day policy-setting meeting later on Tuesday. All eyes are on the Fed's dot plot chart in which members of the U.S. central bank indicate their interest rate forecasts, and remarks by Fed Chairman Jerome Powell at a news conference to be held after the Federal Open Market Committee meeting.

Shares of Shimamura rose after an upward revision of its sales and profit estimates for the business year that ended on Feb. 20.

Shares of supermarket operator Kobe Bussan fell as its earnings report for November-January, released Monday, failed to impress investors.

CURRENCY NEWS: The dollar fetched 109.24 yen in Asian trade, against 109.13 yen in New York late yesterday.

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