Japan Market climbs on yen depreciation; exporters lead rally

Japan share market finished session higher on Thursday, 25 November 2021, as buying sentiments underpinned after the yen's depreciated to an almost five-year low against the dollar.

At closing bell, the 225-issue Nikkei Stock Average advanced 196.62 points, or 0.67%, to 29,499.28. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 6.57 points, or 0.33%, to 2,025.69.

Export related shares advanced on yen depreciation against greenback. The yen's weakness would boost their overseas earnings when repatriated. Automaker Subaru rose 1.3%. SoftBank added 1.3% and Fast Retailing added 1.6%.

Shares of aviation players declined, with Air carrier ANA Holdings declining 5.7% after announcing its decision to raise close to 150 billion yen in funds. Rival Japan Airlines lost 1.7%.

 

Pharmaceutical company Shionogi gained 3% after the company said that it had concluded a memorandum of understanding with Vietnam's health ministry to cooperate on infectious disease control.

CURRENCY NEWS: Japanese yen depreciated to mid-115 range against greenback on Thursday. The dollar fetched 115.39 yen compared with 115.46 yen in New York and 114.91 yen in Tokyo on Wednesday.

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