Tokyo stocks close slightly higher after halt in yen's appreciation

Sep 18, 2020

Business
Tokyo stocks close slightly higher after halt in yen's appreciation

Tokyo (Japan), September 18: Tokyo stocks closed slightly higher Friday as investors were heartened by a halt in the yen's appreciation. However, gains were capped by investors unloading holdings ahead of a four-day holiday through next Tuesday in Japan.
The 225-issue Nikkei Stock Average ended up 40.93 points, or 0.18 percent, from Thursday to close the day at 23,360.30.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, rose 8.02 points, or 0.49 percent, to finish at 1,646.42.
After briefly sliding to a seven-week low of 104.53 yen overnight, the U.S. dollar stopped losing ground and stayed in the upper 104 yen range. The benchmark Nikkei was in positive territory most of the day despite moving narrowly.
According to some analysts, hopes that new Prime Minister Yoshihide Suga's administration will ensure political stability and expectations of more outings during the country's four-day holiday amid waning coronavirus concerns also provided a floor for Tokyo shares.
However, some brokers pointed to a wait-and-see mood as the market will be closed on Monday and Tuesday for national holidays.
By the close of play, pulp and paper, air transportation and land transportation issues comprised those that increased the most, and rising issues outnumbered falling ones by 1,600 to 488 on the First Section, while 88 ended the day unchanged.
Oriental Land, which surged 335 yen, or 2.3 percent, to 15,115 yen was among those increased, while Sony advanced 191 yen, or 2.3 percent, to 8,323 yen.
On the main section on Friday, 1,499.74 million shares changed hands, increasing from Thursday's 1,108.94 million shares. (1 U.S. dollar equals 104.59 Japanese yen)
Source: Xinhua News Agency