TOKYO: Japan’s Nikkei share average advanced on Tuesday as a softer yen lifted exporter shares, while stocks with a connection to China soared on Beijing’s new promises of an “appropriately loose” monetary policy next year.
The Nikkei rose 0.09% to 39,197.42 by the midday break, while the broader Topix gained 0.14% to 2,738.26. Automakers were among exporter shares that climbed as the yen softened against the US dollar.
The dollar was trading around 151.14 yen during the session. Toyota Motor advanced 0.9%, Suzuki Motor soared 3.5% and Honda Motor added 1.8%. Fanuc and Yaskawa Electric, up 3.6% and 2.6% respectively, and other shares with strong ties to China rallied, after Beijing’s surprise announcement on Monday that it plans to implement a looser monetary policy and more proactive fiscal policy.
Shiseido jumped 4.9% to become the top percentage performer on the Nikkei. A portion of Japan’s chip-related shares tracked AI leader Nvidia and other US technology shares lower after China’s market regulator launched a probe into Nvidia over suspected violation of the country’s antimonopoly law. Chip-testing equipment maker Advantest, which counts Nvidia among its customers, traded flat after dipping in early trade.
Source: Brecorder
