Japan Stocks end tad higher

Japan share market finished marginal higher in choppy trading on Wednesday, 10 March 2021, as positivity by tracking positive cues overnight from Wall Street was offset by the yen's firmness against the greenback. Market gainers were led by pharmaceutical and electric appliance issues, while mining, and iron and steel issues led decliners.

At closing bell, the 225-issue Nikkei Stock Average rose 284.69 points, or 0.99%, to 29,027.94. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 24.10 points, or 1.27%, to 1,917.68.

Market participants were cautious about a possible narrowing of the interest rate gap between Japan and the United States following a pause in U.S. yield gains on Tuesday.

 

Electronic components makers were boosted by gains in their U.S. peers overnight. Fujitsu advanced 3.2% to 15,695 yen and NEC gained 2.1% to 6,300 yen.

Automakers fell on the firmer yen, with Mazda Motor sliding 3% to 913 yen and Suzuki Motor sagging 2.3% to 4,766 yen.

CURRENCY NEWS: The U.S. dollar moved little in the upper 108 yen range throughout the day after hitting a nine-month high of 109.23 yen in Tokyo on Tuesday. The Japanese yen changed hands at 108.77 per dollar, weakening from a previous level around 108.45.

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