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Japan Stocks gains on firm offshore cues, weaker yen

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Headline indices of the share market inclined on Monday, 09 July 2018, following the gains on Wall Street Friday after the release of better than expected US employment figures. Meanwhile, the relatively cheaper yen against the dollar also supporting the market. Almost all TSE33 issues inclined, with shares in Pharmaceutical, Financial Business, Services, Information & Communication, Metal Products, Electric Power & Gas, and Banks issues being notable gainers. At the close, the index added 1.21%, or 264.04 points, to 22,052.18. The broader index of all First Section issues on the Stock Exchange, meanwhile, rose 1.2%, or 20.25 points, to 1,711.79.

Share of major exporters were mostly higher, with Sony Corp, Mitsubishi Electric, Toyota, and were up in a range of 1% to 2%.

On the flip side, and were declining in a range of 3% to 4%.

In economic news, the Bank of said that in was up 2.2% on year in June, coming in at 524.847 trillion yen. That follows the 2.0% gain in May.

Japan posted a current account surplus of 1,938.3 billion yen in May, the Ministry of said on Monday, up from 1,845.1 billion yen in April. The trade balance reflected a deficit of 303.9 billion yen, following the 573.8 billion yen surplus in the previous month. The adjusted current account surplus was 1,850.0 billion yen, following the 1,885.5 billion yen surplus a month earlier.

NEWS: The slightly depreciated to the mid 110 yen zone against greenback on Monday.

The dollar was quoted at 110.43-44 yen compared with 110.40-50 yen in and 110.57-58 yen on Friday in The euro, meanwhile, fetched 129.75-78 yen against 129.66-76 yen in and 129.39-43 yen in late Friday afternoon trade in

OFFSHORE MARKET: U. S. stocks closed higher on Friday as relatively upbeat jobs report offset worries about trade tensions between the U. S. and The Dow Jones Industrial Average gained 99.74 points or 0.41% to 24,456.48, the rose 23.21 points or 0.85% to 2,759.82 and the Index added 101.96 points, or 1.34%, to 7,688.39.

The European markets ended with modest gains on Friday after staging a late recovery. The DAX of climbed 0.26% and the CAC of rose 0.18%. The of the U. K. gained 0.19%.

COMMODITIES: Crude mixed on Friday. The continued supply outage at Canada's supported US crude prices. But increased by 458,000 barrels per day in June according to OPEC, pushing the price lower. fell by US28 cents or 0.4% to US$77.11 a barrel, but the US rose by US86 cents or 1.2% to US$73.80 a barrel. For the week, the lost 0.5% and Brent fell by 2.9%.

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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 09 2018. 10:34 IST
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