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Japanese shares jump to one-month high

Published: September 05, 2019 12:45:46 | Updated: September 10, 2019 16:25:50


File Photo (Collected)

Japanese shares rose on Thursday as investors cheered some easing tension in Hong Kong, British lawmakers’ vote against a “no-deal” Brexit and signs of progress in US-China trade talks.

The benchmark Nikkei average advanced to a one month-high. It gained as much as 2.5 per cent to 21,157.15 in the morning session, its highest level since Aug. 2.

The broader Topix rose as much as 2.3 per cent to 1,540.59, reports Reuters.

All of the Tokyo Stock Exchange’s 33 subsectors were in positive territory as the market attracted hefty purchases across the board.

Cyclical sectors were particularly in demand, with sea transport, electrical machinery and precision machinery the top three performing subindexes on the Topix, up between 3.2 and 3.7 per cent.

Other notable movers include TSE REIT index, edging up 0.3 per cent higher to hit a fresh 12-year high since 2007.

M3 Inc soared 11.4 per cent and Tokyo Dome Corp dived 7.0 per cent after index provider Nikkei announced it will drop the baseball stadium operator from the Nikkei 225 share average and replace it with the medical-related service provider, from Oct 1.

Candidates which did not make the list were down, due to disappointment. Kakaku.com, Zozo and Nintendo shed 5.5 per cent, 1.7 per cent and 1.2 per cent, respectively.

Nissan Motor Co gained 2.6 per cent despite media reports quoting its chief executive as admitting to improperly receiving stock-related compensation, in the latest case of financial misconduct among executives at Japan’s second-largest automaker.

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