You are here: Home » News-CM » International » Market Report
Business Standard

Japan Stocks gain on Wall Street strength

Capital Market 

Japan share market finished session higher on Thursday, 08 October 2020, as an overnight upswing in U. S. equities on renewed hopes for U. S. stimulus measures to underpin the virus-hit economy lifted investor sentiment. Market sentiment was also supported by some better-than-expected earnings from retailers. At closing bell, the 225-issue Nikkei Stock Average advanced 224.25 points, or 0.96%, to 23,647.07.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 9 points, or 0.55%, to 1,655.47.

Total 28 issues of the 33 industry category of Topix index ended into black territory, with Marine Transportation, Iron & Steel, Services, Precision Instruments, Securities & Commodities Futures, and Chemicals issues being notable gainers, while Air Transportation, Rubber Products, and Electric Power & Gas issues were notable losers.

Investors took cues from Wall Street's overnight advances after a tweet by U. S. President Donald Trump stating he would support relief measures for airlines and small businesses.

Market sentiment was also supported by some better-than-expected earnings from retailers. Ahead of Japan's first-half corporate earnings season, many Japanese retailers closing books in February have started reporting their six-month results and forecasts for the full year.

Shares of high-technology issues gained on tracking overnight advances in U. S. counterparts. Screen Holdings jumped 8.3% to 6,370 yen, Advantest gained 5.4% to 5,490 yen and Tokyo Electron climbed 3.7% to 28,580 yen.

ANA Holdings lost 1.7% to 2,438.50 yen after the airline was reported to have proposed to employees a cut in pay and winter bonuses.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 08 2020. 22:34 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU