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  • Japan Stocks rise on upbeat U.S. jobs data
  • July 03,2020  19:24
  • Japan share market finished session higher on Friday, 03 July 2020, supported by an overnight advance on Wall Street after stronger-than-expected U.S. jobs data. However, market gains capped amid lingering worries about COVID-19 cases after reports that more than 100 coronavirus infections were found in Tokyo for the second consecutive day on Friday

    At closing bell, the 225-issue Nikkei Stock Average inclined 160.52 points, or 0.72%, to 22,306.48. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 9.57 points, or 0.62%, at 1,552.33.

    Tokyo market inherited a positive lead from Wall Street overnight which was buoyed by upbeat jobs data. The U.S. regained 4.8 million jobs in June 2020 after an upwardly revised 2.7-million gain in the prior month, while the unemployment rate ticked down to 11.1% from 13.3% in May.

    But concerns over a second wave of coronavirus infections in Tokyo weighed on market sentiment, despite the government saying that business and social restrictions will not be imminently reimposed.

    Shares of semiconductor-related issues notably gained ground on following their U.S. peers higher. Advantest added 2.1%, while Tokyo Electron rose 2.8%. Screen Holdings, meanwhile, ended the day 3.4% higher.

    Shares of transportation issues came under pressure amid mounting overseas and domestic COVID-19 concerns. ANA Holdings dropped 1.3%, while Kyushu Railway closed 1.3% lower.

    Shares of electric power companies lost ground on reports that Japan government plans to shut around 100 coal-fired power plants to lower its CO2 emissions, with Tokyo Electric Power down 1.5% and Shikoku Electric Power closing the day 1.4% lower.

    CURRENCY: The U.S. dollar fetched 107.48-49 yen compared with 107.45-55 yen in New York and 107.47-49 yen in Tokyo Thursday. The euro was quoted at 120.75-79 yen against 120.77-87 yen in New York and 121.23-27 yen in Tokyo on Thursday.

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