Japanese shares edge higher, concerns over PM Abe's health weigh
24/08/2020 04:32
TOKYO, Aug 24 (Reuters) - Japanese shares inched up on
Monday in line with gains in e-mini futures, but rising
speculations around Prime Minister Shinzo Abe's health weighed
on sentiment.
The benchmark Nikkei share average .N225 rose 0.33% to
22.996.44 by the midday break, with 105 advancers on the index
against 113 decliners.
The broader Topix .TOPX gained 0.22% to 1,607.64. About
half of the 33 sector sub-indexes on the Tokyo exchange traded
higher.
E-mini futures for the S&P 500 EScv1 rose 0.28%, which
created a tailwind to the market.
Investors were wary after Japanese Prime Minister Abe
entered a Tokyo hospital to receive a follow-up medical
examination from last week. urn:newsml:reuters.com:*:nT9N2DA024
Last week's medical check-up lasted seven-and-a-half hours,
stoking concerns about Abe's ability to continue as leader due
to health issues and fatigue from handling the COVID-19 crisis.
Abe, already Japan's longest-serving prime minister,
surpassed a half-century-old record set by his great-uncle
Eisaku Sato for the longest consecutive tenure as premier on
Monday, adding to speculation he may resign after reaching the
milestone. urn:newsml:reuters.com:*:nL4N2FP0MC
Investors also await Federal Reserve Chairman Jerome
Powell's address at the Kansas City Fed Jackson Hole symposium
on Thursday for clues on the outlook for U.S. monetary policy.
urn:newsml:reuters.com:*:nL1N2FM13D
The stocks that gained the most among the top 30 core Topix
names were Nintendo Co Ltd 7974.T up 4.28 %, followed by
Mitsui & Co Ltd 8031.T .
The largest percentage gainers in the index were Nissan
Chemical Corp 4021.T up 2.76%, followed by Dai-ichi Life
Holdings Inc 8750.T rising 2.73 % and Daikin Industries Ltd
6367.T up by 2.31%.
(Reporting by Eimi Yamamitsu; Editing by Rashmi Aich)
((eimi.yamamitsu@thomsonreuters.com;))