Japan Nikkei rises on upbeat offshore lead, weaker yen

Headline indices of the Japan share market closed higher on Tuesday, 12 March 2019, as market mood buoyed by gains on Wall Street overnight on robust U.S. retail sales data and yen depreciation to lower 111 zone against greenback. The markets also welcomed Theresa May's now-revised Brexit deal ahead of a critical vote in Parliament. At closing bell, the 225-issue Nikkei Stock Average advanced 378.60 points, or 1.8%, at 21,503.69. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 24.04 points, or 1.52%, at 1,605.48.

All 33 subsectors of the Tokyo Stock Exchange inclined, with shares in Securities & Commodities Futures, Electric Appliances, Real Estate, Precision Instruments, Machinery, Glass & Ceramics Products, and Iron & Steel issues being notable gainers.

 

Japanese technology shares tracked their U.S. peers higher. Chip equipment manufacturer Tokyo Electron added 1.6%, Advantest Corp gained 1.5% and Silicon products maker Sumco Corp gained 2.9%.

Exporters stocks gained as yen gave ground to the dollar for the second day. Honda Motor Co climbed 1.3%, Panasonic Corp rose 2.1% and robot manufacturer Fanuc Corp advanced 2%.

Healthcare and medical device maker Omron Corp rose 5.1% following the company's inclusion in the Nikkei 225 starting Mar. 18.

CURRENCY NEWS: The U.S. dollar changed hands in the lower 111 yen zone in Tokyo on Tuesday. The dollar was quoted at 111.32-33 yen compared with 111.17-27 yen in New York and 111.27-29 yen on Monday in Tokyo. The euro, meanwhile, fetched 125.34-38 yen against 125.03-13 yen in New York and 125.16-20 yen in late Monday afternoon trade in Tokyo. .

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