Japan Stocks rise on upbeat offshore lead

Japan share market finished session higher on Wednesday, 02 September 2020, following gains on the Wall Street overnight after data showed U.S. manufacturing expanded last month at the fastest pace since 2018.

At closing bell, the 225-issue Nikkei Stock Average advanced 109.08 points, or 0.47%, to 23,247.15. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 7.59 points, or 0.47%, to 1,623.40.

Total 24 issues of the 33 industry category of Topix index ended into black territory, with Electric Appliances, Marine Transportation, Other Financial Business, Fishery, Agriculture & Forestry, Precision Instruments, and Land Transportation issues being notable gainers, while Mining, Insurance, Oil & Coal Products, and Transportation Equipment issues were notable losers.

 

The Institute for Supply Management released a report showing manufacturing activity in the U.S. expanded at a faster rate in the month of August. The U.S. manufacturing expansion on Tuesday came after Chinese factory data signaled rising global demand for exports, a sign the world economy is recovering from the pandemic.

CURRENCY: The Japanese yen traded at 106.02 per dollar after seeing levels around 105.5 against the greenback earlier in the week.

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