Japan Stocks gain on bargain hunting

Japan stock market finished session firmly in positive territory on Thursday, 04 April 2024, as investors scooped up shares that had been battered a day earlier, with electric power & gas, nonferrous metals, mining, metal products, and insurance stocks leading gains.

The 225-issue Nikkei Stock Average index surged by 321.29 points, or 0.81%, to finish at 39,773.14. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 25.49 points, 0.94%, to 2,732.00.

Total 29 of 33 TSE sectors closed higher, with Electric Power & Gas being top performer, rising 3.5%, followed by Nonferrous Metals (up 2.9%). Mining (up 2.5%), and Insurance (up 1.77%), while banks was top performer, falling 1.43%, followed by iron & steel (down 0.5%).

 

CURRENCY NEWS: Japanese yen moved narrowly in the upper 151 range against greenback, as traders remained cautious about a possible yen-buying intervention by Japanese authorities if the dollar rises toward around the 152 yen.

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