Japan Market ends higher in choppy trade

15 Mar 2022 , 04:32 PM

Japan share market finished choppy session higher on Tuesday, 15 March 2022, as investors continued bargain buying on recently battered shares on the yens further weakening and a drop in crude oil prices.

However, market gains capped amid Beijings possible alignment in the Ukraine-Russia conflict and caution ahead to the Federal Reserves monetary policy announcement on Wednesday.

With the Fed widely expected to raise interest rates by 25 basis points, market participants awaiting for the accompanying statement for clues about further policy tightening for the rest of the year.

At closing bell, the 225-issue Nikkei Stock Average added 38.63 points, or 0.15%, to 25,346.48. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 14.35 points, or 0.79%, to 1,826.63.

Shares of automakers topped the gainers list, with Toyota, Nissan and Subaru climbing 2-5%. Startup investor SoftBank Group slumped 4.2% and Uniqlo store operator Fast Retailing declined 4.5%.

CURRENCY NEWS: The Japanese yen traded at more than 118 to the US dollar, the softest level since 2017, but, in late afternoon trading, the yen gained into the high 117-range. The Japanese yen traded at 117.96 per dollar, stronger than levels around 118.40 seen against the greenback earlier.

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