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

Japan shares rally as reopening hopes boosts travel, real estate firms

06/01/2021 | 11:21pm EDT

TOKYO, June 2 (Reuters) - Japanese shares advanced on Wednesday as the hospitality sector gained after accelerating vaccinations boosted economic reopening hopes, while shares of carmakers scaled new highs due to stronger global demand.

The Nikkei share average rose 0.46% to 28,946.84, while the broader Topix gained 0.85% to 1,942.50.

While Japan last week extended its social restriction measures to later this month, investors are looking beyond, with signs of pickup in vaccination fuelling their bets on economic reopening.

"Daily vaccination counts are now hitting about 500,000, so we can hope that by mid-July, we could reach a level where new infections should fall because enough number of people will have been vaccinated," said Nobuhiko Kuramochi, market strategist at Mizuho Securities.

Railway companies were among the best performers, with West Japan Railway jumping 5.0% and East Japan Railway soaring 3.9%.

Airliner ANA Holdings gained 2.9%, while rival Japan Airlines followed close with rise of 2.6%.

The real estate sector was another strong performer, with Sumitomo Realty & Development adding 4.0% while Mitsui Fudosan rose 3.9%.

Real estate investments trusts (REITs) were also in demand, with their index — TSE REIT Index — rising 1.1% to come within their 14-month intraday peak hit about a month ago.

Automakers shone, as carmakers globally benefit from demand recovery and from hopes that the worst of chip shortage may be over soon.

Honda Motor rallied 4.2% to hit a three-year high, while Toyota Motor extended its uptrend to scale a record high.

On the other hand, investors also rotated out of shares that had benefited from windfalls following the pandemic.

Furniture store operator Nitori Holdings lost 3.3% to one-year low while medical equipment maker Sysmex shed 3.0%.

Drugmakers also came under pressure, with Daiichi Sankyo dropping 1.4% to a 13-month low and Ono Pharmaceutical down 1.0% at a 14-month low. (Reporting by Hideyuki Sano)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANA HOLDINGS INC. 3.30% 2659 End-of-day quote.16.78%
DAIICHI SANKYO COMPANY, LIMITED -0.24% 2251 End-of-day quote.-36.32%
EAST JAPAN RAILWAY COMPANY 1.77% 7648 End-of-day quote.11.08%
HONDA MOTOR CO., LTD. 0.78% 3467 End-of-day quote.20.49%
JAPAN AIRLINES CO., LTD. 3.31% 2374 End-of-day quote.19.00%
MITSUI FUDOSAN CO., LTD. 2.68% 2642 End-of-day quote.22.40%
NIKKEI 225 0.49% 27970.22 Real-time Quote.1.42%
NITORI HOLDINGS CO., LTD. 2.14% 20755 End-of-day quote.-4.00%
ONO PHARMACEUTICAL CO., LTD. 0.02% 2540 End-of-day quote.-18.28%
SUMITOMO REALTY & DEVELOPMENT CO., LTD. 0.82% 3672 End-of-day quote.15.44%
SYSMEX CORPORATION -0.53% 13230 End-of-day quote.6.69%
TOYOTA INDUSTRIES CORPORATION 0.32% 9330 End-of-day quote.13.92%
TOYOTA MOTOR CORPORATION 0.43% 9871 End-of-day quote.24.05%
WEST JAPAN RAILWAY COMPANY 2.57% 6256 End-of-day quote.15.87%
Latest news "Economy & Forex"
05:43pCOST OF A DATA BREACH : Behind the Numbers of a Cybersecurity Response Plan
05:34pThe WSJ Dollar Index Falls 0.09% to 87.27 -- Data Talk
05:34pEuro Gains 0.13% to $1.1818 -- Data Talk
05:34pSterling Gains 0.43% to $1.3876 -- Data Talk
05:33pDollar Lost 0.54% to 109.79 Yen -- Data Talk
05:28pMoody's says expects mexico’s gdp to increase 5.6% in 2021 and 2.9% in 2022, as the economy benefits from faster us growth
05:26pMoody's says fatality rate remains very high in mexico at above 9%, well above that of peer countries and the third highest in the world, which points to inadequacies in the mexican public health system
05:26pLIVESTOCK-Profit-taking drags down CME livestock futures
05:25pMoody's says although vaccinations are increasing, mexico is unlikely to meet the threshold for herd immunity by the end of 2021
05:24pMoody's says mexican mortgage lending is rebounding and now accounts for a larger share of consumer credit than personal loans
Latest news "Economy & Forex"