Japan Market extends gain on firm offshore lead

Japan share market finished higher for second straight session higher on Monday, 16 May 2022, as investor sentiment improved on tracking positive lead from Wall Street last Friday.

However, market gains were capped as shockingly weak China's economic data fuelled slowdown worries.

At closing bell, the 225-issue Nikkei Stock Average advanced 119.40 points, or 0.45%, to 26,547.05. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 0.94 point, or 0.05%, to 1,863.26.

Precision parts maker NTN Corp topped the gainers list to climb as much as 11.7% while nonferrous metals manufacturer Dowa Holdings fell more than 13%.

 

In economic news, producer prices surged an annual 10% in April, the Bank of Japan said on Monday, up from the upwardly revised 9.7% increase in the previous month.

CURRENCY NEWS: The dollar rose back to levels above 129.30 yen in Tokyo trading on Monday. At 5 p.m., the dollar stood at 129.36-36 yen, up from 128.80-81 yen at the same time on Friday.

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