Japan Market extends gain for fourth day

Japanese share market finished higher for the fourth straight session on Monday, 08 August 2022, supported by the yen depreciation against the U.S. dollar and robust earnings reports from major Japanese companies.

At closing bell, the 225-issue Nikkei Stock Average index rose by 73.37 points, or 0.26%, to 28,249.24. The broader Topix index of all First Section issues on the Tokyo Stock Exchange advanced 4.24 points, or 0.22%, to 1,951.41.

Bandai Namco Holdings shares soared 4.1% after the game maker reported a whopping 55% year-on-year spike in video game sales for its fiscal first quarter.

Camera and office equipment maker Canon climbed 4.6% after announcing its second share buyback this year. Automaker Suzuki Motor jumped 10.4% after backing its full-year outlook.

 

CURRENCY NEWS: The dollar was firm in the lower 135 yen zone as investors bought the U.S. unit amid hopes of a further widening in the interest rate gap between Japan and the United States following stronger-than-expected jobs data in the world's largest economy. At 5 p.m., the dollar stood at 134.99-99 yen, up from 133.26-31 yen at the same time Friday.

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