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Japan Nikkei gains ahead of record stimulus approval

Capital Market 

Japan share market finished session higher on Friday, 19 November 2021, as risk sentiments boosted up on the expected approval of a record economic stimulus package later in the day by Japan's Cabinet to shore up its pandemic recovery.

Investors are on the lookout for Prime Minister Fumio Kishida expected announcement of a record 55.7 trillion yen ($490 billion) stimulus package in Japan later on Friday,

At closing bell, the 225-issue Nikkei Stock Average advanced 147.21 points, or 0.5%, to 29,745.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 9.01 points, or 0.44%, to 2,044.53. Trading volume turnover on the main section stood at 1.22 billion shares worth 2.82 trillion yen.

Defense-related stocks rose as the planned stimulus included additional large-scale budget outlays for national defense. Defense equipment maker Ishikawa Seisakusho surged 5% and airborne measuring instrument maker Tokyo Keiki added 3.3%.

ECONOMIC NEWS: Japan Consumer Prices Up 0.1% On Year In October- Japan overall consumer prices were up 0.1% on year in October, the Ministry of Internal Affairs and Communications said on Friday, down from 0.2% in September.

Core consumer prices, which exclude volatile food prices, also rose an annual 0.1%. Individually, prices were up for food, housing, fuel, furniture, education and recreation; prices were down for clothing, medical care and communications. On a seasonally adjusted monthly basis, overall inflation slipped 0.3% and core CPI dipped 0.1%.

CURRENCY NEWS: Japanese yen depreciated to mid114 range against greenback on Friday. The Japanese yen weakened slightly, trading at 114.33 per dollar.

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

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First Published: Fri, November 19 2021. 16:38 IST