Japanese shares closed higher; Nikkei 225 gained 2.30%

29.08.2016

Japan's stock market closed Monday trading session higher due to the strengthening of the shipbuilding and automotive glass production sectors.

At the close on the Tokyo Stock Exchange, Nikkei 225 rose 2.30%.

The leaders of growth among the components of the Nikkei 225 index were the shares of Taiyo Yuden Co., Ltd. (T: 6976), which went up by 66.0 p (7.18%), closing at 985.0. Quotes of JTEKT Corp. (T: 6473) rose 103.0 p (7.06%), ending trading at 1561.0. The shares of Alps Electric Co., Ltd. (T: 6770) rose 144.0 p (6.92%), closing at 2225.0.

The worst performed were the shares of Nippon Suisan Kaisha, Ltd. (T: 1332), the price of which has fallen by 16.0 p (3.63%), ending the session at around 425.0. Shares of Aeon Co., Ltd. (T: 8267) fell 31.5 p (2.14%), closing at 1440.0, and Meiji Holdings Co., Ltd. (T: 2269) decreased in value by 130.0 p (1.36%) and closed trading at around 9400.0.

On the Tokyo Stock Exchange, the number of advancing securities (1601) exceeded the number closed in the red (387), and the quotes of 68 shares remained virtually unchanged.

The volatility index Volatility Nikkei, which is based on options trading indicators on the Nikkei 225, fell 1.05% to reach 23.53.

Japanese stocks reached the peak in more than a week amid the weakness of the yen due to the fact that the head of the US Federal Reserve Janet Yellen signaled that a rate hike is still possible in 2016.

The broader index Topix added 2.0 % to 1313.24 points, and JPX-Nikkei 400 rose 2.1 % to 11810.49 points.

Yellen said on Friday that the probability of a Fed rate has increased in recent months due to improved labor market indicators and expectations of moderate economic growth.

Meanwhile, USD/JPY pair rose 0.54% to 102.35, and EUR/JPY rose 0.57%, reaching 114.61.

USD Index rose 0.07% to 95.55.

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