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Japan Nikkei extends gain on yen softer tone, offshore lead

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Headline indices of the share market were higher on Tuesday, 11 September 2018, as investors continued bargain hunting on tracking positive lead from offshore market overnight and the yen's weakening against the dollar. Total 27 issues out of 33 index inclined, with shares of Oil & Coal Products, Pharmaceutical, Information & Communication, Securities & Commodities Futures, Foods, and Mining issues being notable gainers, while & Steel, & Paper, and Fishery, Agriculture & Forestry issues were notable losers. In late afternoon trade, the 225-issue Nikkei Stock Average advanced 277.65 points, or 1.24%, to 22,650.74. The broader index of all First Section issues on the Stock Exchange, meanwhile, grew 10.84 points, or 0.64%, to finish at 1,698.45.

Shares of export-related companies gained as yen slipped against the dollar for the third day. Canon Inc, Panasonic, Mitsubishi Electric, Sony Corp, Toyota Motor, and Electron rose in a range of 0.5% to 2%.

climbed as their U. S. counterparts bounced overnight, with Kyocera Corp, Corp, Advantest Corp, and advanced rose in a range of 2% to 3%.

Shares of inclined almost 3% after the chipmaker said it has agreed to acquire U. S.-based for about $6.7 billion, aiming to boost its expertise in

Shares of rose almost 6% after the manufacturer announced that it would buy from Fujitsu for 20.54 billion yen

Shares of gained 5.1% after reported strong earnings, with sales up 75% to 5.47 billion yen for the year through July 2018.

ECONOMIC NEWS: The Bank of said that the M2 money stock in was up 2.9% on year in August, coming in at 1,006.1 trillion yen.

That was unchanged from the July reading following a downward revision from 3%. The M3 money stock was up an annual 2.5% at 1,337.7 trillion yen - also unchanged from the previous month following a downward revision from 2.6%.

CURRENCY NEWS: depreciated against greenback on Tuesday. The dollar fetched 111.17 yen in Asian trade, against 111.18 yen in and 110.95 yen in on Monday.

OFFSHORE MARKET NEWS, US closed mixed on Monday, as traders seemed reluctant to make any significant moves amid a lack of and lingering trade concerns after ramped up trade tensions with last Friday. The Dow Jones Industrial Average fell 59.47 points or 0.2% to 25,857.07, while the Nasdaq rose 21.62 points or 0.3% to 7,924.16 and the inched up 5.45 points or 0.2% to 2,877.13.

The major European stock markets ended higher on Monday. The U. K.'s Index closed just above the unchanged line, the German DAX Index edged up by 0.2% and the French Index rose by 0.3%.

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

First Published: Tue, September 11 2018. 10:08 IST
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