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Japan Market rises as U.S.-Iran tensions ease

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The Japan share market finished session higher on Friday, 10 January 2020, as abating concerns over an escalation in tensions between the United States and Iran and after Wall Street shot to new highs overnight. The yen's softer tome versus the U. S. dollar also helped underpin the market and helped lift export-related issues. At closing bell, the 225-issue Nikkei Stock Average advanced 110.70 points, or 0.47%, to 23,850.57, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange grew 6.11 points, or 0.35%, at 1,735.16.

Export-related issues advanced on yen's softer tome versus the U.

S. dollar, as a weaker yen sees exporters' profits augmented when repatriated and overall competitiveness enhanced in overseas markets. industrial robotics maker Fanuc climbed 2.4 percent, while Screen Holdings jumped 4.1 percent. Taiyo Yuden, meanwhile, closed the day 2.6 percent higher.

Apple suppliers advanced after news that iPhone sales in China rose more than 18% in December. Sharp rose 0.9%, Alps Alpine was up 1.1%, and Murata rose 1.1%.

Retail group Seven & I Holdings Co. climbed 3.7 percent after announcing a 4.9 percent rise in its consolidated operating profit for March-November 2019. Shimachu Co. surged 10.8 percent thanks to the furniture retailer's share buyback plan.

Shares of Fast Retailing fell 2.8% a day after the Uniqlo chain of casual clothes stores cut its full-year outlook after worse-than-expected quarterly results.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 10 2020. 16:25 IST
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