Roundup: Tokyo stocks close higher after solid China trade data lifts mood

Source: Xinhua| 2020-10-13 20:00:05|Editor: huaxia

TOKYO, Oct. 13 (Xinhua) -- Tokyo stocks closed higher Tuesday as despite a marginally higher start on the back of Wall Street's lead, only to slip in later trade due to the yen's strength, the market was ultimately bolstered by Chinese trade data for September.

The 225-issue Nikkei Stock Average edged up 43.09 points, or 0.18 percent, from Monday to close the day at 23,601.78.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 5.75 points, or 0.35 percent, to finish at 1,649.10.

The yen's rise reversed a positive opening, with market participants unnerved by reports that a late-stage trail for Johnson & Johnson Services Inc.'s COVID-19 vaccine candidate had been halted due to a patient becoming ill for reasons yet to be explained.

But gains were reinstated in afternoon following data showing that China's imports and exports had both increased in September, reflecting the second largest economy's recovery from the pandemic.

By the close of play, air transportation, insurance and electric appliance-oriented issues comprised those that gained the most.

On the back of Japan's machinery orders increasing in the latest recording period, the upbeat Chinese trade data also helped lifted machinery-oriented issues, with SMC Corp. adding 3.4 percent, while industrial robotics maker Fanuc Corp., advanced 4.2 percent.

Apple-related issues gained traction ahead of its highly anticipated event to launch its latest series of iPhones later in the day.

As such, Taiyo Yuden and Murata Manufacturing both climbed 3.9 percent by the close.

TDK Corporation, for its part, closed the day 1.8 percent higher.

Airline issues rose after Japan's tourism minister said the government would increase budget allocations to travel agencies who had been left short under its "Go To Travel" domestic tourism subsidy scheme.

Japan Airlines rose 3.0 percent, while ANA Holdings added 1.6 percent by the close.

Issues that rose outpaced those that fell by 1,045 to 1,028 on the First Section, while 103 ended the day unchanged.

On the main section on Tuesday, 870.81 million shares changed hands, rising from Monday's volume of 850.07 million shares.

The turnover on the second trading day of the week came to 1.840 trillion yen (17.449 billion U.S. dollars). Enditem