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Japan shares end higher on vaccine roll-outs, BOJ tankan

Published 14/12/2020, 07:28
Updated 14/12/2020, 07:30
© Reuters.

© Reuters.

TOKYO, Dec 14 (Reuters) - Japanese shares closed higher on
Monday as progress on COVID-19 vaccine roll-outs globally lifted
risk sentiment, while a Bank of Japan survey showed business
sentiment in December improved at the fastest pace in nearly two
decades.
The Nikkei share average .N225 rose 0.3% to 26,732.44,
rebounding from its first weekly loss in six. The broader Topix
.TOPX gained 0.48% to 1,790.52, its highest close since
October 2018.
All but six of the 33 sector sub-indexes on the Tokyo
exchange ended higher, with highly cyclical shippers .ISHIP.T
and machinery .IMCHN.T among the top performing sectors on the
main bourse.
The market tracked U.S. stock futures higher on growing
hopes of a swift global economic recovery amid progress on
COVID-19 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 shares pared some early gains in the afternoon,
following news that Prime Minister Yoshihide Suga could further
restrict a travel subsidy programme to contain mounting
infections at coronavirus meeting later in the day. Japan reported a record of more than 3,000 new daily
coronavirus infections on Saturday and the capital Tokyo
confirmed 621 new cases.
Toyota Motor 7203.T rose nearly 1.7% to hit its highest
level since early February, supported by the launch of its
revamped hydrogen fuel cell car as well as by solid November
Chinese auto sales data. Nintendo 7974.T jumped 3.13% as the Kyoto-based gaming
company continued to benefit from tougher social restrictions.
Elsewhere, Mitsubishi Heavy Industries 7011.T soared more
than 7.5% after the Nikkei daily newspaper reported on Friday
that the company-led project to build a new fighter plane would
be joined by U.S. aerospace company Lockheed Martin Corp
LMT.N .

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