Nikkei ends higher on upbeat machinery orders, U.S. tech rebound
10/09/2020 07:56
TOKYO, Sept 10 (Reuters) - Japanese shares ended higher on
Thursday as better-than-expected machinery orders data and Wall
Street's rebound from a three-day losing streak bolstered
investor sentiment.
The benchmark Nikkei share average .N225 closed 0.88%
higher at 23,235.47, with 197 advancers on the index against 25
decliners. The broader Topix .TOPX gained 1.21% to 1,624.86,
marking the highest close since Sept. 3.
Both the indexes clawed back from a 1-1/2-week low marked in
the previous session.
Wall Street's main indexes closed higher overnight as
investors jumped back in to take advantage of the pullback in
tech-related stocks. .N
Also underpinning gains, Japan's core machinery orders, a
leading gauge of capital spending, rebounded in July from a
sharp fall in the previous month. The Cabinet Office's data
showed July's core machinery orders grew 6.3%. urn:newsml:reuters.com:*:nL4N2G62LI
Among sectors and shares, shippers .ISHIP.T , glass and
ceramics .IGLSS.T and other financial .IFINS.T were among
the top performing sectoral sub-indexes on the main bourse.
Japan's technology and semiconductor stocks took cues from
U.S. peers and jumped, with SoftBank Group Corp 9984.T rising
2.17% to snap a five-session run of losses.
Internet services provider Rakuten 4755.T jumped more than
7.7%, while semiconductor manufacturer Screen Holdings 7735.T
inched up 0.96%.
Investors also cheered the upbeat domestic data, with
precision motors maker Nidec Corporation 6594.T rising 3.61%,
electrical equipment manufacturer Yaskawa Electric Corporation
6506.T gaining 1.54% and factory automation machinery
manufacturer Fanuc Corporation 6954.T climbing 2.59%.
Nintendo 7674.T added 1.99% after Bloomberg News reported
that the company raised its production goal for gaming console
Switch by another 20%. urn:newsml:reuters.com:*:nFWN2G50W8
The Mothers Index .MTHR of start-up firm shares bucked the
overall firmness and lost 0.81% to post its second day of
losses.
(Reporting by Eimi Yamamitsu; Editing by Devika Syamnath and
Uttaresh.V)
((eimi.yamamitsu@thomsonreuters.com;))