Japan Market hits three-and-half-month high

Japan share market finished session at fresh three-and-half-month high on Friday, 05 June 2020, as investor sentiments bullish on hopes for a global economic recovery prospects. At closing bell, the 225-issue Nikkei Stock Average rose 0.74%, or 167.99 points, to 22,863.73. The broader Topix index of all First Section issues on the Tokyo Stock Exchange advanced 0.54%, or 8.66 points, to 1,612.48. For the week, the Nikkei gained 4.5% and the broader Topix rose 3.1%.

Shares of blue-chip exporters were in demand, as a softer yen boosts Japanese manufacturers' profits made abroad when repatriated. Mazda Motor leaped 5.9%, while Nissan Motor and Honda Motor gained 4.8% and 3.8%, respectively. Toshiba Corp rose 3.4% after the company's said strong orders for infrastructure projects and cost cuts will help partly offset an impact from the COVID-19 outbreak.

 

Airlines JAL and ANA were lifted by reports that the government is considering easing travel restrictions for business people.

CURRENCY: The safe-haven yen weakened, with the dollar/yen hitting a fresh two-month high of 109.38 yen and the euro/yen touching a 13-month high of 124.43 yen.

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