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Japanese shares rebound on Wall Street gains, yen's pullback

Published 03/08/2020, 04:41
Updated 03/08/2020, 04:42
© Reuters.

TOKYO, Aug 3 (Reuters) - Japanese shares snapped six
consecutive sessions of losses on Monday, as markets tracked
Wall Street's Friday rally on a flurry of strong earnings
reports, and the yen retreated from a 4-1/2-month high against
the dollar.
The benchmark Nikkei share average .N225 advanced 1.91% to
22,123.93 by the midday break, after shedding 4.6% last week.
The broader Topix .TOPX gained 1.31% to 1,515.60,
recovering from a two-month-low and its biggest daily loss in
four months recorded on Friday.
Wall Street's all three major indexes advanced on Friday,
powered by strong earnings results from U.S. tech giants,
including Apple Inc, Amazon.com and Facebook Inc. .N
In the currency market, the yen fell to a low of 106.40 yen
against the dollar, moving away from a 4-1/2-month high of
104.195 yen touched on Friday.
Among individual stocks, Yamato Holdings Co Ltd 9064.T
rose 5.16% as the company forecast a 43.2% jump in operating
profit for the fiscal year.
Murata Manufacturing Co Ltd 6981.T gained 1.15% after the
company left its full-year operating profit forecast unchanged.
Keyence Corporation 6861.T fell 3.93% after the factory
automation equipment maker logged a 21.9% decline in its
March-June operating profit.
Mazda Motor 7261.T slipped 3.21% as the automaker posted
an operating loss of 45.3 billion yen for the first quarter, its
weakest in 11 years, and forecast a record annual operating
loss. Elsewhere, Nichiigakkan Co Ltd 9792.T surged 8.38% after
U.S. investment firm Bain Capital made a sweetened offer price
at $1.2 billion. Seven & i Holdings Co Ltd 3382.T dipped 8.05% after the
retail group said it would buy U.S. gas stations Speedway from
Marathon Petroleum, as some investors viewed the deal price to
be too high amid a coronavirus-led economic slowdown.

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