Japan Stocks extend gains to fifth day

Japan share market finished higher fifth straight session on Monday, 15 March 2021, as risk sentiments continued boosted by yen weakening against greenback and the prospects of the stimulus-driven global economic recovery. However, market gains capped after disappointing machinery order data for January and on caution ahead of the Federal Reserve policy meeting later this week.

At closing bell, the 225-issue Nikkei Stock Average rose 49.14 points, or 0.17%, to 29,766.97. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 17.67 points, or 0.91%, to 1,968.73.

Total 31 out of 33 industry category of Topix index ended into positive territory, with Marine Transportation, Air Transportation, Banks, Iron & Steel, Warehousing & Harbor Transportation Services, Transportation Equipment, and Textiles & Apparels issues being notable gainers.

 

Shares in Rakuten Inc advanced after the Japanese e-commerce company agreed to sell a stake to postal and banking giant Japan Post Holdings Co to strengthen an alliance forged last year between the two on logistics.

ECONOMIC NEWS: Japan Core Machine Orders Fall 4.5% On Month In January- Japan value of core machine orders slipped a seasonally adjusted 4.5% on month in January, standing at 841.7 billion yen, the Cabinet Office said on Monday, following the upwardly revised 5.3% increase in December. On a yearly basis, core machine orders climbed 1.5% after spiking 11.8% in the previous month. The forecast for Q1 2021 core machine orders suggests a decline of 6% on quarter and 5.2% on year.

CURRENCY NEWS: The dollar fetched 109.05 yen in Asian trade, against 109.00 yen in New York late Friday.

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