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

Japan: Stocks up on vaccine hopes

Capital Market 

Japan share market finished session marginal higher on Wednesday, 02 December 2020, driven by coronavirus vaccine hopes, revived stimulus talks in the US Congress, and positive U. S. and Chinese economic indicators. However, market's topside was capped due to profit-taking by speculators near the psychological threshold of Nikkei 27,000 near the psychological threshold of 27,000.

At closing bell, the 225-issue Nikkei Stock Average advanced 13.44 points, or 0.05%, to 26,800.98. The broader Topix index of all First Section issues on the Tokyo Stock Exchange grew 5.59 points, or 0.32%, to 1,773.97.

Cyclicals such as real estate and materials issues jumped on continued high hopes for economic recovery after the coronavirus crisis.

Automakers also attracted buying, with Honda rising 5.09% and Hino gaining 2.15%. Other major winners included optical equipment-maker Olympus and semiconductor test device-maker Advantest. On the other hand, Recruit Holdings continued to slide after media reports on share sales by shareholders in international markets, dropping 4.75%. Major Nikkei components such as Fast Retailing, SoftBank Group and M3 also lost ground.

CURRENCY NEWS: The Japanese yen traded at 104.57 per dollar, off levels below 104.1 against the greenback seen earlier in the trading week.

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: Wed, December 02 2020. 16:02 IST