Japanese stocks rise on U.S. stimulus optimism

Nojima

21/10/2020 07:44

TOKYO, Oct 21 (Reuters) - Japanese shares closed higher on
Wednesday as optimism that U.S. lawmakers could reach an
agreement on a pre-election stimulus package lifted riskier
assets globally.
    The benchmark Nikkei share average  .N225  settled 0.31%
higher at 23,639.46, erasing some of Tuesday's losses with 188
advancers on the index against 35 decliners. The broader Topix
 .TOPX  gained 0.73% to 1,637.60.
    All but two of the 33 sector sub-indexes on the Tokyo
exchange finished higher. Cyclical iron and steel  .ISTEL.T ,
miners  .IMING.T  and shippers  .ISHIP.T  were the three top
performers on the main bourse.
    Analysts said a rise in U.S. stock futures during Asian
trade created a tailwind for the market. E-mini futures for the
S&P 500  EScv1  were last up 0.47%.
    With just two weeks until the U.S. presidential election,
lawmakers moved closer to agreement on a new coronavirus relief
package as President Donald Trump said he was willing to accept
a large aid bill despite opposition from his own Republican
Party.  urn:newsml:reuters.com:*:nL1N2HB0H1
    The news helped Wall Street finish higher overnight and
buoyed sentiment in Asia.  MKTS/GLOB 
    Among the gainers in Japan, Shimachu  8184.T  soared by
14.54%, shy of its daily limit, after furniture retailer Nitori
Holdings  9843.T  said it may bid for the home improvement
retailer, threatening a tender offer by DCM Holdings  3050.T .
 urn:newsml:reuters.com:*:nL4N2HB52D
    Nitori and DCM were down 1.63% and 6.81%, respectively. 
    Shares of ANA Holdings  9202.T  ended 1.73% higher, despite
reports that the coronavirus-battered airline operator was 
expected to post a net loss of 530 billion yen ($5 billion) for
the fiscal year ending in March 2021. ANA said after market
hours that the forecast was undecided.  urn:newsml:reuters.com:*:nL4N2HC0LF urn:newsml:reuters.com:*:nFWN2HB12E
    Takara Bio Inc  4974.T  jumped 5.42% after the biotechnology
company lifted its net profit forecast for the six months ended
Sept. 30.  urn:newsml:reuters.com:*:nXB0CPUM6X
    Nojima Corp  7419.T  gained 7.31% after upgrading its net
profit outlook for the fiscal year ending in March 2021.
 urn:newsml:reuters.com:*:nXB145HMRR
    The Mothers Index  .MTHR  of start-up firm shares reversed
course to close 0.48% lower.

 (Reporting by Eimi Yamamitsu; Editing by Aditya Soni and
Subhranshu Sahu)
 ((eimi.yamamitsu@thomsonreuters.com;))