Investing.com - Financial Markets Worldwide

Japan shares end higher as traders await more U.S. stimulus

Published 25/09/2020, 07:34
© Reuters.
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By Stanley White
TOKYO, Sept 25 (Reuters) - Japanese stocks rose on Friday,
tracking tech-led strength on Wall Street overnight as hopes for
more U.S. stimulus offset some concerns about the health of the
global economy.
The Nikkei 225 Index .N225 ended 0.51% higher at
23,204.62. The broader Topix .TOPX gained 0.48% to 1,634.23.
For the week, however, the benchmark fell 0.67%, as some
analysts warned that worries about a second wave of coronavirus
cases in Europe could limit further upside for Japanese shares.
Supporting sentiment on the day, a top U.S. lawmaker said
Democrats in the House of Representatives were working on a $2.2
trillion coronavirus stimulus package that could be voted on
next week. As much as $380 billion from the U.S. Congress' last big
coronavirus aid package is unused and could help households and
businesses if lawmakers approve, Federal Reserve Chair Jerome
Powell and Treasury Secretary Steven Mnuchin said. Japan's high-tech shares rose, tracking overnight gains in
U.S. bellwethers such as Apple Inc AAPL.O , Amazon.com Inc
AMZN.O , Nvidia Corp NVDA.O and Facebook Inc .FB.O .
Investors also bought shares before the next round of
corporate earnings to ensure they are eligible to receive
dividends on their holdings, traders and analysts said.
Among the top 30 core Topix names, electric parts maker
Keyence 6861.T and automaker Toyota Motor Co 6981.T gained
the most, up 2.16% and 1.73%, respectively.
The biggest underperformers were East Japan Railway Co
9020.T , down 3.56%, and Central Japan Railway Co 9022.T ,
which shed 2.85%.
There were 148 advancers on the Nikkei index against 69
decliners on Friday.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 1.28 billion, compared with the average
of 1.14 billion in the past 30 days.

(Editing by Devika Syamnath)

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