AGL 5.60 Decreased By ▼ -0.18 (-3.11%)
ANL 8.90 Increased By ▲ 0.02 (0.23%)
AVN 76.85 Decreased By ▼ -2.07 (-2.62%)
BOP 5.26 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.63 Decreased By ▼ -0.07 (-1.49%)
EFERT 81.27 Decreased By ▼ -0.33 (-0.4%)
EPCL 50.08 Decreased By ▼ -0.83 (-1.63%)
FCCL 13.16 Decreased By ▼ -0.22 (-1.64%)
FFL 5.69 Decreased By ▼ -0.03 (-0.52%)
FLYNG 7.07 Decreased By ▼ -0.08 (-1.12%)
FNEL 4.79 Decreased By ▼ -0.03 (-0.62%)
GGGL 8.80 Decreased By ▼ -0.10 (-1.12%)
GGL 14.55 Decreased By ▼ -1.33 (-8.38%)
HUMNL 5.69 Decreased By ▼ -0.08 (-1.39%)
KEL 2.63 Decreased By ▼ -0.03 (-1.13%)
LOTCHEM 28.60 Decreased By ▼ -0.45 (-1.55%)
MLCF 24.49 Decreased By ▼ -0.61 (-2.43%)
OGDC 72.43 Decreased By ▼ -0.02 (-0.03%)
PAEL 15.36 Increased By ▲ 0.01 (0.07%)
PIBTL 5.00 Decreased By ▼ -0.05 (-0.99%)
PRL 16.10 Decreased By ▼ -0.19 (-1.17%)
SILK 1.08 Decreased By ▼ -0.01 (-0.92%)
TELE 9.14 Decreased By ▼ -0.23 (-2.45%)
TPL 7.23 Decreased By ▼ -0.10 (-1.36%)
TPLP 18.61 Decreased By ▼ -0.34 (-1.79%)
TREET 21.68 Decreased By ▼ -0.32 (-1.45%)
TRG 136.71 Decreased By ▼ -4.44 (-3.15%)
UNITY 16.88 Decreased By ▼ -0.14 (-0.82%)
WAVES 9.86 Decreased By ▼ -0.04 (-0.4%)
WTL 1.41 No Change ▼ 0.00 (0%)
BR100 4,225 Decreased By -29.6 (-0.7%)
BR30 15,518 Decreased By -214.7 (-1.36%)
KSE100 42,150 Decreased By -243.4 (-0.57%)
KSE30 15,588 Decreased By -75.7 (-0.48%)
Markets

Japanese shares track Wall St higher; SoftBank, chip shares gain

  • The Nikkei share average advanced to 1.13% 27,803.83 by 0202 GMT, while the broader Topix gained 1.1% to 1,936.17
Published August 24, 2021
Follow us

TOKYO: Japanese shares rose on Tuesday, tracking Wall Street's strong finish overnight, as heavyweights SoftBank Group and chip-related stocks jumped along with energy and transport sectors.

The Nikkei share average advanced to 1.13% 27,803.83 by 0202 GMT, while the broader Topix gained 1.1% to 1,936.17.

Wall Street's main indexes ended higher on Monday, with the Nasdaq closing at an all-time high, as sentiment was boosted after the US Food and Drug Administration (FDA) granted full approval to the COVID-19 vaccine developed by Pfizer Inc and BioNTech SE.

"Japan's market rose as expectations for a faster economic recovery (globally) were raised after the US approval of the Pfizer's vaccine," said Shuji Hosoi, a senior strategist at Daiwa Securities.

"Whether the Japanese shares will continue this momentum will depend on how Japan can come up with measures for stopping a further surge of new infections."

Japan's vaccination rate still lags other developed nations and the country's hospitals are battling its worse wave of the outbreak, and, amid this pandemic, Tokyo is hosting the Paralympic Games.

Global start-up investor SoftBank Group rose 2.14%, while chip-related shares rose after a strong finish of the Philadelphia Semiconductor Index.

Chip manufacturing equipment maker Tokyo Electron rose 2.34% and semiconductor test equipment supplier Advantest gained 2.47%.

Shippers also led the market's gain, up 4.2%, while steel makers and airlines gained 3.2% and 2.61%, respectively.

Industrial materials maker Showa Denko became the worst performer on the Nikkei, tumbling 11.65%, after the company announced a sale of new shares.

Yamaha Motor followed with a loss of 6.98% and Olympus was down 1.69 %. The volume of shares traded on the Tokyo Stock Exchange's main board was 0.41 billion, compared to the average of 1.04 billion in the past 30 days.

Comments

Comments are closed.

Japanese shares track Wall St higher; SoftBank, chip shares gain

Saudi Arabia extends term of $3bn deposit: SBP

Rupee remains unchanged against US dollar

Giving the govt a chance, sit with us and call elections: Imran Khan

Oil ticks up ahead of OPEC+ meeting, EU Russian oil ban

OMCs take a hit as petroleum sales drop in Pakistan

Pakistan's pitches from 'dark ages', says cricket chief Ramiz

India to continue buying Russian oil: ministry source

Imran Khan says Senator Azam Swati treated in 'vengeful manner'

Qurat ul Ain Fatima appointed new ECP spokesperson

OPEC set to stick or cut more amid plan to cap Russian oil price