Japan Stocks gain on weaker yen

Japan share market finished session higher on Tuesday, 08 September 2020, on inheriting a positive lead from European shares advancing overnight amid vaccine hopes and the yen's weakness against the U.S. dollar.

However, market gains capped as investors remained cautious about making bold moves amid caution on the policies of candidates in the ruling Liberal Democratic Party's presidential election campaign, which kicked off Tuesday to pick a successor to Prime Minister Shinzo Abe. Chief Cabinet Secretary Yoshihide Suga, Abe's right-hand man, and two former ministers are vying in the race after the premier abruptly announced his resignation late last month due to illness.

At closing bell, the 225-issue Nikkei Stock Average inclined 184.18 points, or 0.8%, to 23,274.13. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 11.15 points, or 0.69%, to 1,620.89.

Total 30 issues of the 33 industry category of Topix index ended into black territory, with Services, Foods, Iron & Steel, Real Estate, Nonferrous Metals, and Mining issues being notable gainers, while Other Products and Machinery issues were notable losers.

CURRENCY: The U.S. dollar stayed firm in the lower 106 yen range. The dollar fetched 106.28-29 yen compared with 106.19-20 yen in Tokyo on Monday.

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