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Japan Stocks end mixed

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Japan share market finished session mixed on Monday, 27 July 2020, as selling on mirroring weak global cues and the yen's appreciation against greenback was offset by buying on hopes for the Bank of Japan's purchases of exchange-traded funds (ETFs).

At closing bell, the 225-issue Nikkei Stock Average dropped 35.76 points, or 0.16%, to 22,715.85. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 3.73 points, or 0.24%, at 1,576.69.

Japan share markets were closed on Thursday and Friday for national holidays.

Total 22 sub-indices of 33 industry category of Topix index climbed into positive territory, with Electric Power & Gas, Insurance, Fishery, Agriculture & Forestry, Warehousing & Harbor Transportation Services, Banks, and Chemicals issues being notable gainers, while Marine Transportation, Precision Instruments, and Securities & Commodities Futures issues were notable losers.

ECONOMIC NEWS: The Bank of Japan's Summary of Opinions for its mid-July meeting, released Monday, said the country's economy is expected to pick up moderately from the second half of 2020. The central bank warned, however, that the economy is unlikely to return to the level reached before the outbreak of COVID-19″ even in fiscal 2022.

CURRENCY: The U. S. dollar dropped to a more than four-month low in the mid-105 yen range during trading hours, and was quoted at 105.56-58 yen at close, compared with 106.09-19 yen at close on Friday in New York.

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

First Published: Mon, July 27 2020. 16:05 IST