Address

Precise Investors

Sunday, July 25, 2021
Stocks & Shares

Japan share market closes higher after recouping losses

Japan share

The Nikkei Stock Average added 105.60 points, or 0.36%, to 29,126.23, while the Topix index of all First Section issues on the Tokyo Stock Exchange rose 3.17 points, or 0.17%, to 1,918.15

Japan share market closed higher after recouping earlier losses on Monday as bargain-hunting underpinned on expectations of solid corporate earnings reports from major Japanese companies. However, market gains capped after tougher restrictions to curb the spread of coronavirus infections in Japan were imposed.

At closing bell, the 225-issue Nikkei Stock Average added 105.60 points, or 0.36%, to 29,126.23. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 3.17 points, or 0.17%, to 1,918.15.

Total 22 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange traded higher, with Air Transportation, Land Transportation, Iron & Steel, Marine Transportation, Nonferrous Metals, Real Estate, and Textiles & Apparels issues being notable gainers, while Pharmaceutical, Warehousing & Harbor Transportation Services, Rubber Products, and Chemicals issues were notable losers.

Tokyo stocks opened lower on Monday after tougher restrictions to curb the spread of coronavirus infections in Japan were imposed on Friday declaring “short and powerful” states of emergency for Tokyo, Osaka and two other prefectures, requiring restaurants, bars and karaoke parlours serving alcohol to close. Market managed to recoup losses late afternoon as bargain hunting resumed on expectations of solid corporate earnings reports from major Japanese companies.

Japan is facing a fourth wave of the pandemic, with new cases surging in big cities including Tokyo and Osaka. The rapid rise in deadlier COVID-19 variant cases has also become a point of concern for investors — as has the slow pace of Japan’s rollout of vaccines. Little over 1% of the population has received a first dose.

Travel-related shares advanced on bargain hunting, with ANA Holdings rising 5.8% after the airline said its full-year operating loss would be smaller than previously forecast.

Railway companies stocks also soared, with Central Japan Railway, West Japan Railway and East Japan Railway rising 4.7%, 5.2% and 3.4%, respectively.

Important:

The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

five × five =