NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Nikkei rides Wall Street gains on renewed U.S. stimulus hopes

Published 10/08/2020, 02:13 PM
Updated 10/08/2020, 02:20 PM
© Reuters.
JP225
-
TOPX
-
7735
-
9202
-
6857
-
9201
-
6146
-
IAIRL.T
-
ISHIP.T
-
ISVCS.T
-
MTHR
-

TOKYO, Oct 8 (Reuters) - Japanese shares closed higher on
Thursday, following an upbeat Wall Street session overnight, as
hopes for a partial deal on U.S. coronavirus stimulus boosted
investor sentiment.
The benchmark Nikkei share average .N225 rose 0.96% to
23,647.07, hovering near levels hit on Feb. 20. There were 134
advancers on the index against 84 decliners.
The broader Topix .TOPX gained 0.55% to 1,655.47.
All but six of 33 sector sub-indexes on the Tokyo exchange
traded higher, with shippers .ISHIP.T , iron and steel
.ISTELT and services .ISVCS.T leading advancers on the main
bourse.
Overnight, all major indexes on Wall Street ended sharply
higher as President Donald Trump urged Congress to pass
piece-meal aid packages for coronavirus relief, after he had
abruptly called off negotiations on a comprehensive bill.
Tokyo stocks were also boosted by a moderate rise in E-Mini
futures for the S&P 500 EScv1 after the U.S. vice-presidential
debate, last up 0.37%.
But analysts said some investors stayed on the sidelines as
earnings results take centre stage again later this month.
Japan's semiconductor shares rose on positive cues from
their U.S. counterparts, with Screen Holdings 7735.T jumping
more than 8%, Advantest Corp 6857.T climbing 5.37% and Disco
Corp 6146.T adding 3.79%.
Among sectors, airlines .IAIRL.T bucked the overall trend
to fall 1.23%, as firms have been hammered by a collapse in
international air travel due to the coronavirus outbreak.
ANA Holdings 9202.T shed 1.67% after it proposed to the
labour unions at its main carrier ANA to seek workers to leave
voluntarily. The company also said it was cutting winter bonuses
to zero and reducing monthly salaries. Meanwhile, Japan Airlines 9201.T slipped 0.67% after its
president said on Thursday the company wants to bolster discount
carrier operations to capture tourism demand. Elsewhere, the Mothers Index .MTHR of start-up firms rose
more than 2%, posting gains for a fourth consecutive day.

Latest comments

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.