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Japanese shares head for weekly gain on monetary easing optimism

Published 20/09/2019, 03:30
Updated 20/09/2019, 03:40
© Reuters.  Japanese shares head for weekly gain on monetary easing optimism

By Stanley White

TOKYO, Sept 20 (Reuters) - Japanese stocks rose for a second

day on Friday as consumer-related shares gained on speculation

the Bank of Japan will follow other central banks and ease

policy next month.

By 0155 GMT the Nikkei index rose 0.43% to 22,138.16. Nikkei

shares were on course for a 0.7% gain this week, which would be

its third straight week of gains.

There were 166 advancers on the Nikkei index against 52

decliners.

The BOJ kept policy steady on Thursday but signalled its

readiness to expand stimulus as early as next month by issuing a

stronger warning of overseas risks threatening the

export-reliant economy. The largest percentage gainers in the index were Olympus

Corp 7733.T up 3.35%, followed by DeNA Co Ltd 2432.T gaining

2.95% and Chugai Pharmaceutical Co Ltd 4519.T up by 2.62%.

Shares of Hub Co Ltd 3030.T an operator of a popular chain

of English-style pubs, rose to the highest since February 2018.

Japan is hosting the Rugby World Cup, and the opening match

is scheduled for later on Friday. Investors are betting the

tournament will boost the pub operator's sales.

The largest percentage losses in the index were Yamato

Holdings Co Ltd 9064.T down 8.14%, followed by Fanuc Corp

6954.T losing 2.27% and Isuzu Motors Ltd 7202.T down by

1.89%.

The broader Topix .TOPX was up 0.34% at 1,621.05.

The volume of shares traded on the Tokyo Stock Exchange's

main board .TOPX was 0.42 billion, below the average of 1.15

billion yen in the past 30 days.

(Editing by Jacqueline Wong)

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