Japan Market gains on solid U.S. data, yen's softer tone

Japan share market closed higher on Friday, 17 May 2019, as a risk-on mood returned on tracking positive close of Wall Street overnight after solid U.S. economic data and comparatively weak yen against the U.S. dollar. At closing bell, the 225-issue Nikkei Stock Average advanced 187.11 points, or 0.9%, at 21,250.09, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange grew 16.70 points, or 1.09%, lower at 1,554.25. .

Total 30 issues of 33 subsectors of the Tokyo Stock Exchange inclined, with shares in Oil & Coal Products, Information & Communication, Mining, Services, Marine Transportation, and Glass & Ceramics Products issues being notable gainers. .

 

Shares of semiconductor-related companies were higher, with chip-testing equipment maker Advantest trading up 1.6% at 2,929 yen, and chip-making equipment manufacturer Tokyo Electron up 2.7% at 16,585 yen. .

Sony surged 7.9% to 5,791 yen after the firm and its US video game rival Microsoft announced an alliance to improve their platforms for streaming entertainment from the internet cloud. Sony's domestic rival Nintendo was up 1.81% at 37,550 yen. .

CURRENCY NEWS: The Japanese yen was little changed against the dollar on Friday. The dollar fetched 109.88 yen in Asian trade, against 109.85 yen in New York late Thursday. .

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