Roundup: Tokyo stocks close higher on upbeat U.S. jobs data



Roundup: Tokyo stocks close higher on upbeat U.S. jobs data

TOKYO, April 5 (Xinhua) -- Tokyo stocks closed higher Monday as buying was propelled by hopes for the pace of the recovery of the global economy following U.S. jobs data for March beating analysts' forecasts.

The 225-issue Nikkei Stock Average gained 235.25 points, or 0.79 percent, from Friday to close the day at 30,089.25, marking its highest closing level since March 18.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 11.92 points, or 0.60 percent, to finish at 1,983.54.

The market direction was largely dictated by the U.S. labor department saying late last week that non-farm payrolls had jumped by 916,000 jobs in March, marking the most jobs created in seven months, with the figure coming in well above median economists' forecast of 647,000 jobs, brokers here said.

"Domestic investors bought shares as sentiment was upbeat...lifted by the positive U.S. jobs data," Chihiro Ota, assistant general manager of investment research at SMBC Nikko Securities Inc., was quoted as saying.

Traders here added that the upbeat reaction to the U.S. jobs data sent investors to go after Japanese chip-linked issues, financials, as well as some heavily-weighted Nikkei components.

"U.S. bond yields rose shortly after the jobs data came out and that is boosting Japanese bank shares as well," Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities, said.

By the close of play, marine transportation, securities house and bank-linked issues comprised those that advanced the most.

Among chip-linked issues gaining ground, Tokyo Electron rose 0.36 percent, while Advantest added 1.9 percent. Shin-Etsu Chemical, meanwhile, ended the day 0.16 percent higher.

Financial issues climbed as a result of rising U.S. bond yields, with Sumitomo Mitsui Financial Group gaining 3.2 percent, Mitsubishi UFJ Financial Group closing 3.1 percent higher and Nomura Holdings jumping 4.3 percent.

Nikkei heavyweights finding favor on hopes for the broader global economic recovery, included Uniqlo casual clothing chain operator Fast Retailing advancing 2.4 percent and SoftBank Group rising 2.1 percent.

Similarly, shipping stocks rose with Kawasaki Kisen leaping 4.9 percent while Nippon Yusen and Mitsui O.S.K. Lines jumped 5.7 percent, with Mitsui buoyed by an upward revision to its earnings forecast.

Issues that rose outpaced those that fell by 1,494 to 624 on the First Section, while 72 ended the day unchanged.

On the main section on Monday, 972.36 million shares changed hands in thin trading owing to a number of overseas markets being closed for the Easter holidays, down from Friday's volume of 1,002.31 million shares.

The turnover on the first trading day of the week came to 2,095.39 billion yen (18.94 billion U.S. dollars).

Roundup: Tokyo stocks close higher on upbeat U.S. jobs data

Roundup: Tokyo stocks close higher on upbeat U.S. jobs data

Xinhua
5th April 2021, 21:55 GMT+10

TOKYO, April 5 (Xinhua) -- Tokyo stocks closed higher Monday as buying was propelled by hopes for the pace of the recovery of the global economy following U.S. jobs data for March beating analysts' forecasts.

The 225-issue Nikkei Stock Average gained 235.25 points, or 0.79 percent, from Friday to close the day at 30,089.25, marking its highest closing level since March 18.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 11.92 points, or 0.60 percent, to finish at 1,983.54.

The market direction was largely dictated by the U.S. labor department saying late last week that non-farm payrolls had jumped by 916,000 jobs in March, marking the most jobs created in seven months, with the figure coming in well above median economists' forecast of 647,000 jobs, brokers here said.

"Domestic investors bought shares as sentiment was upbeat...lifted by the positive U.S. jobs data," Chihiro Ota, assistant general manager of investment research at SMBC Nikko Securities Inc., was quoted as saying.

Traders here added that the upbeat reaction to the U.S. jobs data sent investors to go after Japanese chip-linked issues, financials, as well as some heavily-weighted Nikkei components.

"U.S. bond yields rose shortly after the jobs data came out and that is boosting Japanese bank shares as well," Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities, said.

By the close of play, marine transportation, securities house and bank-linked issues comprised those that advanced the most.

Among chip-linked issues gaining ground, Tokyo Electron rose 0.36 percent, while Advantest added 1.9 percent. Shin-Etsu Chemical, meanwhile, ended the day 0.16 percent higher.

Financial issues climbed as a result of rising U.S. bond yields, with Sumitomo Mitsui Financial Group gaining 3.2 percent, Mitsubishi UFJ Financial Group closing 3.1 percent higher and Nomura Holdings jumping 4.3 percent.

Nikkei heavyweights finding favor on hopes for the broader global economic recovery, included Uniqlo casual clothing chain operator Fast Retailing advancing 2.4 percent and SoftBank Group rising 2.1 percent.

Similarly, shipping stocks rose with Kawasaki Kisen leaping 4.9 percent while Nippon Yusen and Mitsui O.S.K. Lines jumped 5.7 percent, with Mitsui buoyed by an upward revision to its earnings forecast.

Issues that rose outpaced those that fell by 1,494 to 624 on the First Section, while 72 ended the day unchanged.

On the main section on Monday, 972.36 million shares changed hands in thin trading owing to a number of overseas markets being closed for the Easter holidays, down from Friday's volume of 1,002.31 million shares.

The turnover on the first trading day of the week came to 2,095.39 billion yen (18.94 billion U.S. dollars).