Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Japan's Nikkei ends at over 31-year high as cyclicals shine

09/14/2021 | 03:05am EDT

TOKYO, Sept 14 (Reuters) - Japan's Nikkei closed at a more than 31-year high on Tuesday, led by cyclical stocks tracking overnight Wall Street gains, while progress in domestic vaccine rollouts raised hopes for an economic reopening.

The Nikkei share average ended up 0.73% at 30,670.10, its highest since August 1990. The broader Topix jumped 1.01% to 2,118.87.

"The difference between today and yesterday is that today's gain is led by a rebound of U.S. stocks," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Research Institute.

"When economically sensitive (cyclical) stocks lead the U.S. market, that works favourably to the Japanese market because Japan has no big growth shares equivalent to GAFA (Google, Apple, Facebaook and Amazon), so the market can't take advantage of their gains."

Overnight, the S&P 500 ended a five-day losing streak led by value shares that are set to benefit most from a recovering economy.

Insurance sector led gains among the Tokyo Stock Exchange's 33 subindexes, jumping 3.67%, followed by shippers , which gained 2.14%.

Refiners gained 2.05% after oil prices rose to six-week highs.

Sentiment was also boosted by hopes for an economic reopening as Japan is on track to reach the vaccination levels of the United States and Europe. The government said https://www.kantei.go.jp/jp/headline/kansensho/vaccine.html on Tuesday more than 50% of Japan's population have been fully vaccinated.

Technology heavyweights SoftBank Group and Advantest tracked an overnight lower of the Nasdaq , falling 0.49% and 0.18%, respectively.

Tokio Marine Holdings, up 6.2%, was the best performer on the Nikkei, followed by Showa Denko, which jumped 6.19 % and Z Holdings Corp, rising 5.24%.

Konami Holdings fell 2.79 %, making it the worst performer on the Nikkei, followed by Pacific Metals, losing 2.72 % and Tokyo Electric Power Company Holdings , which fell 2.27%.

(Reporting by Junko Fujita; Editing by Rashmi Aich)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION -0.55% 9060 End-of-day quote.17.21%
KONAMI HOLDINGS CORPORATION -1.22% 6460 End-of-day quote.11.38%
PACIFIC METALS CO., LTD. 1.41% 2089 End-of-day quote.-6.32%
SHOWA DENKO K.K. 1.35% 2919 End-of-day quote.32.86%
SOFTBANK GROUP CORP. -3.37% 6387 End-of-day quote.-20.74%
TOKIO MARINE HOLDINGS, INC. -1.11% 6035 End-of-day quote.13.70%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED -0.88% 336 End-of-day quote.23.53%
Z HOLDINGS CORPORATION 1.51% 673.1 End-of-day quote.7.80%
Latest news "Economy & Forex"
07:37aLockheed clips revenue outlook on supply chain woes
RE
07:35aWTO panel to examine Australia-China wine dispute - trade source
RE
07:34aLilly raises 2021 outlook on higher COVID-19 drugs sales
RE
07:32aIndustrial giant 3M lowers profit outlook on supply chain woes
RE
07:25aRaytheon raises adjusted profit forecast on commercial aerospace demand
RE
07:24aToronto futures up as global mood improves on upbeat earnings
RE
07:20aSibanye Stillwater agrees $1 billion deal for nickel, copper mines in Brazil
RE
07:19aU.S. billionaire tax proposal seems to unite Democrats - but will it work?
RE
07:15aWorld Fund climate VC fund aims to raise 350 million euros for green startups
RE
07:13aS.Korea's GL Rapha certified to produce Sputnik COVID-19 vaccines
RE
Latest news "Economy & Forex"