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1803 - Shimizu News Story

¥773 -9.0  -1.2%

Last Trade - 07/08/20

Sector
Industrials
Size
Large Cap
Market Cap £4.25bn
Enterprise Value £4.70bn
Revenue £11.54bn
Position in Universe 204th / 3862

Japan stocks rise by most in one month, caution about virus remains

Thu 5th March, 2020 6:55am
* Tracking the coronavirus: https://tmsnrt.rs/3aIRuz7
    * Healthcare sector shines on virus drug development
    * Stocks still have downside risks due to coronavirus

    By Stanley White
    TOKYO, March 5 (Reuters) - Japanese shares posted their
biggest one-day percentage gain in a month on Thursday, tracking
a surge on Wall Street following strong showing by Joe Biden in
Democratic primaries and robust data that lifted sentiment amid
a rise in coronavirus cases.
    The Nikkei index  .N225  ended 1.09% higher at 21,329.12,
boosted by the healthcare and industrial sectors.
    Former Vice President Biden is now leading the race for the
Democratic Party's presidential nomination, and his economic
policies are considered more benign than main rival Bernie
Sanders.  urn:newsml:reuters.com:*:nL1N2AX07R
    U.S. data that showed strong private sector hiring and
robust growth in the services sector added to the upbeat mood.
 urn:newsml:reuters.com:*:nL1N2AX0PB
    However, many investors warned that the recent sell-off due
to the global spread of the coronavirus could quickly return
because the flu-like illness has not yet been contained.
    The virus emerged in China late last year but has since
spread to some 80 countries, with infections in Japan topping
200 and deaths totalling six. That excludes more than 700 cases
and five more deaths from a quarantined cruise liner.
    "Japanese stocks are very close to book value, so you really
can't sell any further from here," said Takashi Hiroki, chief
strategist at Monex Securities in Tokyo.
    "However, a strong rally is unlikely unless we see a lot
more positive news about the state of the virus in Japan."
    There were 137 advancers on the Nikkei index against 79
decliners on Thursday.
    Takeda Pharmaceutical Co Ltd  4502.T  rose 3.51% after the
company said it was developing a drug for the virus, boosting
shares in peers.  urn:newsml:reuters.com:*:nL4N2AX2BL
    The largest percentage gainers were drugmaker Kyowa Kirin Co
Ltd  4151.T  up 4.51%, followed by food and drugmaker Meiji
Holdings Co Ltd  2269.T  gaining 4.23%. Industrial conglomerate
Hitachi Ltd  6501.T  advanced 4.18%.
    The largest percentage losers were aluminium maker Nippon
Light Metal Holdings Co Ltd  5703.T , down 2.63%. Construction
company Shimizu Corp  1803.T  slipped 2.1%, while truck maker
Hino Motors Ltd  7205.T  dropped 1.9%.
    Some traders now await the U.S. non-farm payrolls data due
on Friday to gauge the health of the world's largest economy.
 urn:newsml:reuters.com:*:nL8N2AV6BO
    The broader Topix index  .TOPX  rose 0.88% to 1,515.71.
    The volume of shares traded on the Tokyo Stock Exchange's
main board  .TOPX  was 1.38 billion, compared to the average
1.36 billion in the past 30 days.

 (Editing by Subhranshu Sahu and Sriraj Kalluvila)
 ((stanley.white@tr.com; +81 (0)3 4563 2799;
twitter.com/stanleywhite1 ;))
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