Nikkei rides Wall Street gains on renewed U.S. stimulus hopes
08/10/2020 07:13
TOKYO, Oct 8 (Reuters) - Japanese shares closed higher on
Thursday, following an upbeat Wall Street session overnight, as
hopes for a partial deal on U.S. coronavirus stimulus boosted
investor sentiment.
The benchmark Nikkei share average .N225 rose 0.96% to
23,647.07, hovering near levels hit on Feb. 20. There were 134
advancers on the index against 84 decliners.
The broader Topix .TOPX gained 0.55% to 1,655.47.
All but six of 33 sector sub-indexes on the Tokyo exchange
traded higher, with shippers .ISHIP.T , iron and steel
.ISTELT and services .ISVCS.T leading advancers on the main
bourse.
Overnight, all major indexes on Wall Street ended sharply
higher as President Donald Trump urged Congress to pass
piece-meal aid packages for coronavirus relief, after he had
abruptly called off negotiations on a comprehensive bill.
urn:newsml:reuters.com:*:nL1N2GY0GB
Tokyo stocks were also boosted by a moderate rise in E-Mini
futures for the S&P 500 EScv1 after the U.S. vice-presidential
debate, last up 0.37%.
But analysts said some investors stayed on the sidelines as
earnings results take centre stage again later this month.
Japan's semiconductor shares rose on positive cues from
their U.S. counterparts, with Screen Holdings 7735.T jumping
more than 8%, Advantest Corp 6857.T climbing 5.37% and Disco
Corp 6146.T adding 3.79%.
Among sectors, airlines .IAIRL.T bucked the overall trend
to fall 1.23%, as firms have been hammered by a collapse in
international air travel due to the coronavirus outbreak.
ANA Holdings 9202.T shed 1.67% after it proposed to the
labour unions at its main carrier ANA to seek workers to leave
voluntarily. The company also said it was cutting winter bonuses
to zero and reducing monthly salaries. urn:newsml:reuters.com:*:nL4N2GY1XD
Meanwhile, Japan Airlines 9201.T slipped 0.67% after its
president said on Thursday the company wants to bolster discount
carrier operations to capture tourism demand. urn:newsml:reuters.com:*:nL4N2GY1BS
Elsewhere, the Mothers Index .MTHR of start-up firms rose
more than 2%, posting gains for a fourth consecutive day.
(Reporting by Eimi Yamamitsu;
Editing by Vinay Dwivedi)
((eimi.yamamitsu@thomsonreuters.com;))