Japan share market finished volatile session modestly higher on Friday, 11 September 2020, registering second day of positive close, thanks to strength in US stock futures and decline in as Covid-19 cases in the capital city of Tokyo. At closing bell, the 225-issue Nikkei Stock Average advanced 171.02 points, or 0.74%, to 23,406.49. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 11.78 points, or 0.73%, to 1,636.64.
Total 29 issues of the 33 industry category of Topix index ended into black territory, with Marine Transportation, Other Financial Business, Land Transportation, Precision Instruments, Air Transportation, Services, and Pharmaceutical issues being notable gainers, while Mining and Transportation Equipment issues were notable losers.
The Tokyo market opened softer, tracking overnight losses in Wall Street, as heavyweight US tech stocks resumed their decline following a sharp rebound on Wednesday.
However, market recouped early losses to end notable higher on tracking strength in US stock futures. Also strengthening sentiments were reports stated Tokyo city's daily cases have gradually declined since hitting a peak of 472 cases in early August, with 276 new cases reported on Thursday.
Tokyo Dome Corp slipped 2.3% after the company forecasts a net loss of 18 billion yen for the year through January 2021.
ECONOMIC NEWS: Japan Producer Prices Climb 0.2% On Month In August- Japan producer prices were up 0.2% on month in August, down from 0.8% in July, the Bank of Japan said on Friday. On a yearly basis, producer prices fell 0.5% following the 0.9% decline in the previous month. Export prices were up 0.4% on month and down 1.5% on year in August, the bank said, while import prices gained 1.2% on month but tumbled 10.9% on year.
CURRENCY: The Japanese yen traded at 106.17 per dollar after changing hands at levels below 105.9 against the greenback earlier this week.
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