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Nikkei ends higher on Wall Street cues; Apple-related shares gain

Published 12/16/2020, 02:53 PM
Updated 12/16/2020, 03:00 PM
© Reuters.
JP225
-
AAPL
-
TOPX
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4568
-
6762
-
6770
-
6981
-
5019
-
7974
-
INFRO.T
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IPAPR.T
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ISTEL.T
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MTHR
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5008
-

TOKYO, Dec 16 (Reuters) - Japanese shares closed higher on
Wednesday tracking a strong performance by Wall Street
overnight, while Apple-related stocks gained after a report that
the iPhone maker plans to increase its production.
The Nikkei share average .N225 climbed 0.26% to 26,757.40.
The broader Topix .TOPX gained 0.27% to 1,786.83.
All but eight of the 33 sector sub-indexes on the Tokyo
exchange ended higher, with paper and pulp .IPAPR.T ,
nonferrous metals .INFRO.T and iron and steel .ISTEL.T being
the three top performers on the main bourse.
Overnight, all three major U.S. stock indexes ended higher,
with the Nasdaq notching a record close, on growing prospects of
more fiscal stimulus and a 5% jump in Apple Inc AAPL.O .
The Nikkei business daily reported Apple had asked its
suppliers to increase their production of iPhones by nearly 30%
in the first half of 2021, citing unnamed sources. Among the largest percentage gainers on the Nikkei index,
Apple supplier Alps Alpine 6770.T soared 7.14%.
TDK Corp 6762.T climbed 2.25%, while Murata Manufacturing
6981.T gained nearly 2.4% before changing course to slip 0.2%.
Some market participants said investors were in a
wait-and-see mode ahead of the U.S. Federal Reserve's policy
decision later in the day.
In its final policy meeting for the year, the U.S. central
bank is expected to keep its key overnight interest rate pinned
near zero and signal it will stay there for years to come.
The stocks that gained the most among the top 30 core Topix
names were Nintendo Co Ltd 7974.T and Daiichi Sankyo Co Ltd
4568.T , rising 2.9% and 2.4%, respectively.
Toa Oil 5008.T surged more than 20% to a daily-limit high
after Idemitsu Kosan 5019.T said it would launch a tender
offer for the company. Idemitsu Kosan rose 1.3%. The Mothers Index .MTHR of start-up firm shares lost
1.18%, hitting its near one-week low.

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