Japan Stocks gain on buybacks

Japan share market finished session higher on Tuesday, 13 October 2020, as machinery stocks attracted renewed buying interest a day after Japan's machinery order data for September showed external demand increased for the first time in two years.

At closing bell, the 225-issue Nikkei Stock Average added 43.09 points, or 0.18%, to 23,601.78. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 5.75 points, or 0.35%, to 1,649.10.

Total 22 issues of the 33 industry category of Topix index ended into black territory, with Air Transportation, Insurance, Real Estate, Electric Appliances, Securities & Commodities Futures, Machinery, and Metal Products issues being notable gainers, while Mining, Oil & Coal Products, Pharmaceutical, Wholesale Trade, and Information & Communication issues were notable losers.

Shares of Apple-related players firmed ahead of an event of the iPhone maker later in the day. TDK Corporation closed the day 1.8% higher. Shares of Murata Manufacturing gained 3.9% while Taiyo Yuden added 3.9%.

Shares of Airline companies rose after Japan's tourism minister said the government would increase budget allocations to travel agencies who had been left short under its "Go To Travel" domestic tourism subsidy scheme. Japan Airlines rose 3%, while ANA Holdings added 1.6%.

CURRENCY NEWS: The Japanese yen traded 105.38 per dollar after strengthening from levels around 105.6 against the greenback yesterday.

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