Japan Stocks gain on vaccination progress

Japan stocks were mostly lower on Friday, 04 June 2021, weighed down by profit-taking after private-sector survey showed that business sentiment in Japan fell for the first time in four months in May, and on cautious ahead of monthly U.S. non-farm payrolls data due later on Friday.

At closing bell, the 225-issue Nikkei Stock Average fell 116.59 points, or 0.4%, to 28,941.52. The broader Topix index of all First Section issues on the Tokyo Stock Exchange edged up 0.49 point, or 0.03%, to 1,959.19.

Trading volume turnover in the 1st section decreased to 1,056 million shares from 1,091 million shares on previous session. Trading value turnover decreased to 2,367.86 billion yen from 2,613.18 billion yen on previous session.

Total 21 sectors of 33 sectors sub-indexes on the Tokyo exchange were higher, with Pulp & Paper, Marine Transportation, Oil & Coal Products, Iron & Steel, Textiles & Apparels, Transportation Equipment, Mining, and Insurance sectors being notable gainers, while Services, Information & Communication, Electric Power & Gas, and Real Estate issues were notable losers.

Market participants were awaiting for the release of the US Labor Department's report on the employment situation in the month of May for fresh insights into the recovery in the labor market, which should offer further clarity on whether the faster-than-expected pace of economic recovery can be sustained and what that might mean for monetary policy.

CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.551 after a recent climb from below 90.3. The Japanese yen traded at 110.17 per dollar, weaker than levels below 110 seen against the greenback yesterday.

Powered by Capital Market - Live News