Japan Nikkei extends gain in choppy trade

22 Nov 2022 , 02:23 PM

Japanese share market finished higher for second straight session on Tuesday, 22 November 2022, supported by buying in exporters on prospects of a better outlook for domestic manufacturers, as the yen depreciated to the 142 range against the U.S. dollar. However, market gains capped ahead of the release of the Federal Reserves minutes of policy meeting and ahead of Tokyo market holiday on Wednesday and the US market Thanksgiving holiday on Thursday. At closing bell, the 225-issue Nikkei Stock Average index advanced 170.95 points, or 0.61%, to 28,115.74. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 22.18 points, or 1.12%, to 1,994.75. All the 33 industry sub-indexes on the Tokyo Stock Exchange rose, with Electric Power & Gas, Insurance, Banks, Pharmaceutical, Wholesale Trade, and Precision Instruments issues being notable gainers. Export related shares advanced as the yen weakened to 142 level against the U.S. dollar, boosting optimism about the firms overseas profits when repatriated. Shares of Shionogi & Co advanced after reports that the countrys regulatory agency had compiled a report confirming the possible efficacy of the drugmakers COVID-19 drug. CURRENCY NEWS: The dollar stood at 141.68 yen after trading in the range of 141.50-142.42 during the day. Powered by Capital Market – Live News