Japan Nikkei rises 1.4% on upbeat offshore lead

27 Jun 2022 , 05:07 PM

Japan share market finished session higher on Monday, 27 June 2022, as investors risk sentiments improved on tracking sharp gains in US markets on Friday following easing inflation concerns and the accompanying aggressive Federal Reserve tightening. At closing bell, the 225-issue Nikkei Stock Average advanced 379.30 points, or 1.43%, to 26,871.27. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 20.70 points, or 1.11%, to 1,887.42. High-tech shares tracked their U.S. counterparts after the technology-heavy Nasdaq index soared over 3% on Friday. Kyocera climbed 1.3%, SoftBank Group jumped 3.7%, Tokyo Electron gained 2.2%, and TDK rose 3.2%. Shipping stocks also posted broad-based gains, with Kawasaki Kisen Kaisha surging 9.6%. Otsuka Holdings shares advanced 5.4%, after the pharmaceutical company announcement on Monday that a clinical trial with Danish pharmaceutical H. Lundbeck A/S showed its antidepressants decreased agitation in patients suffering from Alzheimers disease. CURRENCY NEWS: The Japanese yen moved around the 135 line against greenback as investors sought the yen on speculation that the Fed may decelerate its aggressive monetary policy. The Japanese yen traded at 135.04 per dollar, strengthening from levels above 136 against the greenback last week. Powered by Capital Market – Live News