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Japan shares edge higher on vaccine roll-out progress, BOJ tankan

Published 14/12/2020, 04:21
© Reuters.
JP225
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TOPX
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7974
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7203
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TOKYO, Dec 14 (Reuters) - Japanese shares edged higher on
Monday as progress on COVID-19 vaccine roll-outs globally lifted
risk sentiment, while a Bank of Japan survey showed business
sentiment improved at the fastest pace in nearly two decades in
October-December.
The Nikkei share average .N225 rose 0.64% to 26,823.25 by
the midday break, rebounding from its first weekly loss in six.
The broader Topix .TOPX gained 1.22% to 1,803.73, its highest
since October 2018.
All but one of the 33 sector sub-indexes on the Tokyo
exchange traded higher.
The market tracked U.S. stock futures higher in the morning
session on growing hopes of a swift global economic recovery
amid progress on coronavirus vaccines, with the first shipments
speeding across the United States. The Bank of Japan's tankan survey also supported market
sentiment, as the mood among big manufacturers improved for the
second straight quarter to minus 10 this month from minus 27 in
September. But investors remained cautious over rising coronavirus
cases. Japan reported a record of more than 3,000 new daily
infections on Saturday and the capital Tokyo confirmed 621 new
cases.
Japanese Prime Minister Yoshihide Suga will chair a
coronavirus meeting later in the day and could further restrict
a travel subsidy programme to contain mounting infections.
Toyota Motor 7203.T rose more than 2.1% to hit its highest
level since early February, supported by the announcement of a
revamped hydrogen fuel cell car as well as by solid November
Chinese auto sales data. Nintendo 7974.T jumped 3.41% as the Kyoto-based gaming
company continued to benefit from tougher social restrictions.

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