Japanese shares end higher on strong U.S. job data, SoftBank jumps

Keyence

05/04/2021 07:55

By Junko Fujita
    TOKYO, April 5 (Reuters) - Japanese shares closed higher on
Monday, as strong U.S. jobs data lifted optimism about a
recovery in the world's largest economy, prompting investors to
buy index heavyweights SoftBank Group and Fast Retailing along
with chip-related stocks.
    The Nikkei share average  .N225  ended 0.82% higher at
30,089.25, hitting the 30,000-mark for the first time in more
than two weeks. The broader Topix  .TOPX  gained 0.6% to close
at 1,983.54. 
    The U.S. labour department said on Friday non-farm payrolls
surged by 916,000 jobs last month, the biggest gain since last
August and well above economists' median forecast of 647,000.
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    "Investors have reacted very positively to the strong data
for U.S. employment," said Shoichi Arisawa, general manager of
the investment research department at IwaiCosmo Securities.
    "U.S. bond yields rose shortly after the jobs data came out
and that is boosting Japanese bank shares as well." 
    Index heavyweights Fast Retailing  9983.T , an operator of
Uniqlo brand clothing stores, gained 2.35%, while tech start-up
investor SoftBank Group  9984.T  rose 2.1%.
    Chip-related shares rose, with Advantest  6857.T  rising
1.9%, Tokyo Electron  8035.T  gaining 0.36%, and Shin-Etsu
Chemical  4063.T  adding 0.16%.
    Banking and securities sectors  .ISECU.T   .IBNKS.T  also
advanced, with Nomura Holdings  8604.T  jumping 4.3%. Mitsubishi
UFJ Financial Group  8306.T  gained 3.05%, Sumitomo Mitsui
Financial Group  8316.T  rose 3.21%, and Mizuho Financial Group
 8411.T  advanced 2.81%. 
    Shipping firms received a big boost after Mitsui OSK Lines
 9104.T , up 5.71%, on Friday raised its annual current profit
forecast to 120 billion yen ($1.09 billion) from 95 billion yen.
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    Nippon Yusen  9101.T  jumped 5.66% and Kawasaki Kisen  
 9179.T  climbed 4.86%, helping their sector  .ISHIP.T  become
the top gainer among the 33 sector sub-indexes. 
    The stocks that gained the most among the top 30 core Topix
names were Mitsui & Co  8031.T  up 4.65 %, followed by Sumitomo
Mitsui Financial Group Inc  8316.T . 
    The underperformers among the Topix 30 were Keyence
 6861.T , down 1.89%, and Recruit Holdings  6098.T  that fell
1.59%.
($1 = 110.5600 yen)

 (Editing by Uttaresh.V)
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Messaging:junko.fujita.reuters.com@reuters.net;))