Japan Stocks rise 0.72%

Japan share market finished session higher on Thursday, 01 April 2021, as investor sentiments improved on increased optimism for the U.S. economic recovery and after a key Bank of Japan survey showed sentiment among major Japanese manufacturers recovering to a pre-pandemic level.

At closing bell, the 225-issue Nikkei Stock Average advanced 210.07 points, or 0.72%, to 29,388.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 3.64 points, or 0.19%, to 1,957.64.

Total 22 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange traded lower, with Iron & Steel, Air Transportation, Electric Power & Gas, Rubber Products, Transportation Equipment, and Oil & Coal Products issues being notable losers, while Precision Instruments, Insurance, Electric Appliances, Metal Products, and Mining issues were notable gainers.

The US stocks were mostly higher on the last trading session of the month, Wednesday, 31 March 2021, with Nasdaq and the S&P 500 finishing higher, helped by window dressing on the final day of the first quarter and report from payroll processor ADP showing strong private sector job growth in the month of March. Meanwhile, President Joe Biden $2.3 trillion infrastructure pitch and the possible impact on growth and inflation also supported market upward momentum.

ECONOMIC NEWS:- Japan Businesses Remain Optimistic Regarding Future Output- Japan manufacturing sector continued to expand in March, and at a faster pace, the latest survey from Jibun Bank showed on Thursday with a seasonally adjusted manufacturing PMI score of 52.7. That's up from 51.4 in February, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Individually, there were faster increases in output and new orders, while employment levels finally stabilized. Businesses remain optimistic regarding future output.

Separately, the Bank of Japan's quarterly Tankan Survey of business sentiment showed that large manufacturing in Japan saw some improvement in the first quarter of 2021, with a diffusion index score of +5. That beat forecasts for a reading of 0 as expectations were very soft because of the global Covid-19 pandemic. The Q1 reading was up from a score of -10 three months ago. The outlook came in at +4, matching expectations and up from -8 in the previous quarter.

CURRENCY NEWS: The Japanese yen traded at 110.64 per dollar, still weaker than levels below 109.6 seen earlier this week.

COMMODITY NEWS: Crude Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.48% to $63.04 per barrel. U.S. crude futures also gained 0.34% to $59.5 per barrel.

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