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Japan Market climbs on yen depreciation; exporters lead rally

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Japan share market finished session higher on Thursday, 25 November 2021, as the yen's depreciation to mid 115 yen zone, an almost five-year low, against the dollar after data pointing to strength in the world's largest economy.

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, November 25 2021. 16:34 IST