Investing.com - Financial Markets Worldwide
🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Japan stocks rise on U.S. data, easing concerns about new prime minister

Published 09/02/2020, 10:32 AM
Updated 09/02/2020, 10:40 AM
JP225
-
TOPX
-
4503
-
9433
-
6954
-
6981
-

By Stanley White
TOKYO, Sept 2 (Reuters) - Japanese shares rose on Wednesday
after positive data on the U.S. manufacturing sector spurred
hopes of a global economic recovery remains on track to bounce
back from the COVID-19 pandemic.
Stocks also got a boost after Chief Cabinet Secretary
Yoshihide Suga emerged as the leading candidate to replace
outgoing Prime Minister Shinzo Abe at a leadership election
expected this month.
If Suga becomes the new prime minister, this would suggest
few major changes to economic policy and lesser chances of
political instability, which are positives for equities,
analysts said. The Nikkei 225 Index .N225 rose 0.31% to 23,209.27 by 0204
GMT, while the broader Topix index .TOPX was up 0.2% at
1,619.05.
The stocks that gained the most among the top 30 core Topix
names were electronic parts maker Murata Manufacturing Co Ltd
6981.T up 2.68%, followed by industrial robot maker Fanuc Corp
6954.T gaining 2.49%.
Japan's capital goods sector got a boost after the Institute
for Supply Management said on Tuesday that U.S. manufacturing
activity accelerated to a nearly two-year high in August.
The underperformers among the Topix 30 were drugmaker
Astellas Pharma Inc 4503.T down 2.07%, followed by mobile
carrier KDDI Corp 9433.T losing 1.15%.
There were 82 advancers on the Nikkei index against 136
decliners.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 0.43 billion, compared to the average of
1.16 billion in the past 30 days.

(Editing by Amy Caren Daniel)

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.