September 28, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Japan Market closes at 31-years peak

Japan stocks moved mostly higher on Tuesday, 14 September 2021, with the Nikkei and Topix indexes ending at highest levels in 31 years, as persistent hopes for stimulus under a new prime minister and progress in COVID-19 vaccinations in the country continued to support investors’ risk appetite.

At closing bell, the 225-issue Nikkei Stock Average advanced 222.73 points, or 0.73%, to 30,670.10, its highest finish since 1 August 1990. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 21.16 points, or 1.01%, to 2,118.87, its highest close since 3 August 1990.

Trading volume on the main section stood at 1339 million shares worth 3.35 billion yen as compared yesterday’s 1,135 million shares worth 2.85 billion yen.

Total 29 of 33 industry groups advanced on the Topix, with top performing sectors were Insurance (up 3.7%), Marine Transportation (up 2.1%), Oil & Coal Products (up 1.8%), Transportation Equipment (up 1.8%), Securities & Commodities Futures (up 1.8%), and Precision Instruments (up 1.6%) sectors, while worst performing sectors included Mining (down 0.4%), Pharmaceutical (down 0.3%), and Other Products (down 0.3%) issues.

The market bullish sentiments remained persisted among investors amid hopes that the successor to Prime Minister Yoshihide Suga would compile a fresh economic relief package to win popularity after Suga said earlier this month he will not run in the ruling Liberal Democratic Party’s presidential race.

Meanwhile, the Japanese government statement that more than half of the country’s population has been fully vaccinated against the coronavirus brightened an already upbeat market mood.

CURRENCY NEWS: The US dollar traded narrowly around lower 110 yen level in Tokyo trading on Tuesday. The dollar stood at 110.00-00 yen, slightly down from 110.07-08 yen on Monday. The euro was at 130.07-08 yen, up from 129.74-75 yen.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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