Roundup: Tokyo stocks finish higher with high-tech firms lifting market sentiment

Source: Xinhua| 2021-09-17 17:38:19|Editor: huaxia
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TOKYO, Sept. 17 (Xinhua) -- Tokyo stocks finished higher Friday as market sentiment was lifted after high-tech issues attracted buy orders due to overnight gains on the technology-heavy Nasdaq index and a weaker yen against dollars.

The 225-issue Nikkei Stock Average closed 176.71 points, or 0.58 percent, higher from Thursday at 30,500.05.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange ended 10.01 points, or 0.48 percent, higher at 2,100.17.

Trading volume on the main section increased to 1,599.33 million shares from Thursday's 1,261.50 million shares.

Following the market drew back for the past two trading days after both indexes reached 31-year records, Tokyo stocks returned to the positive territory on Friday due to gains in high-tech issues throughout the day, with sentiment further pushed up by advances in U.S. stock futures.

Kazuo Kamitani, a strategist in the Investment Content Department of Nomura Securities Co., said, "There was robust buying of chip-related issues, and a lot of energy toward scooping up a broad range of shares despite a lack of fresh trading cues," adding that a rebound of Hong Kong's Hang Seng index after felling to its lowest level this year also supported the market.

At the same time, as campaigning for the leadership race of Japan's ruling Liberal Democratic Party (LDP) started on Friday, the impact of expected fresh fiscal policies from a new government continued aiding the market, Kamitani said. The winner of the LDP race will be Japanese Prime Minister Yoshihide Suga's successor as the party controls the House of Representatives.

By the close of play, service, information and communication, and electric appliance shares headed the increase of the day. Advancing issues outnumbered declining ones 1,423 to 645 on the First Section, while 119 finished unchanged.

Due to overnight gains for the Nasdaq index, the Chip-related shares outperformed, with Advantest rising 2.4 percent, Tokyo Electron increasing 1.2 percent, and Taiyo Yuden advanced climbing 1.9 percent.

The U.S. dollar rose slightly in the upper 109 yen range in Tokyo, and the weakened yen benefited some exporters. Electronics manufacturer Sony Group finished up 0.4 percent, and Fanuc ended 1.3 percent higher. Enditem

KEY WORDS: Japan,Stocks,ROUNDUP
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