Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Japanese shares gain on trade detente hopes; Topix hits 4-month top

Published 09/12/2019, 10:16 AM
Updated 09/12/2019, 10:20 AM
Japanese shares gain on trade detente hopes; Topix hits 4-month top
JP225
-
TOPX
-
4689
-
7912
-
8035
-
6857
-
6954
-
6861
-
3092
-
IBNKS.T
-
ITEQP.T
-
TOPXV
-
TOPXG
-

TOKYO, Sept 12 (Reuters) - Japanese shares rose on Thursday,
with the Tokyo Stock Exchange's Topix index hitting a four-month
high, as signs of a thaw in U.S.-China trade frictions lift
cyclical stocks such as machine makers.
The Nikkei share average .N225 rose 0.89% to 21,789.46,
while the broader Topix .TOPX gained 0.73% to 1,595.22,
hitting its highest since early May.
U.S. President Donald Trump said on Wednesday Washington has
agreed to delay increasing tariffs on $250 billion worth of
Chinese imports by two weeks after Beijing said it would exempt
16 types of U.S. products from import tariffs.
Shares of cyclical companies such as manufactures of
semiconductor and robotics, which are seen as closely dependent
on demand in China, rose sharply.
Fanuc Corp 6954.T rose 2.2% and Keyence Corp 6861.T
gained 1.4%. Advantest 6857.T gained 4.4% and Tokyo Electron
8035.T climbed 3.3% to a 15-month high.
The reversal of value-oriented stocks, such as banks and
automakers, that had dominated the market until Wednesday ran
out of steam. Growth stocks .TOPXG led gains with a rise of
0.8%, versus a 0.5% increase in value stocks .TOPXV .
Banking shares .IBNKS.T fell 0.3% after having risen more
than 10% in the previous five sessions. Transport equipment
shares .ITEQP.T , which had risen more than 8% in the last five
sessions, were up 0.3%.
Online fashion retailer Zozo Inc 3092.T rose 15.1%, having
gained as much as 18.9% at one point, after Yahoo Japan Corp
4689.T said it aimed to buy 50.1% of its stake. Yahoo Japan
Corp 4689.T rose 2.4%. Elsewhere, Dai Nippon Printing Co Ltd 7912.T advanced 8%
after the company announced share buyback of up to 60 billion
yen, or 9.94% of its outstanding shares.

(Editing by Subhranshu Sahu)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.