Japan stock market finished session significantly higher on Monday, 22 April 2024, snapping the four-session losing streak, as bargain buying spurred on recently battered stocks on calming fears over the Middle East situation, with shares in exporters and financial companies leading gains partially offset by weakness in technology stocks.

The 225-issue Nikkei Stock Average index added 370.26 points, or 1%, to finish at 37,438.61. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 36.14 points, 1.38%, to 2,662.48.

Total 31 of 33 TSE sectors closed higher, with Securities & Commodities Futures sector being top performer in percentage term, rising 2.6%, followed by Foods, Services, Banks, and Marine Transportation sectors.

Shares of export-related companies advanced. Fanuc jumped 3.8 percent to 4,426 yen and Olympus was up 3.6 percent at 2,171 yen

Nissan slipped 2% to 550 yen after the automaker lowered its earnings forecasts, citing lower sales volumes and higher costs paid to suppliers and other factors. Its rival Toyota declined 0.1% to 3,517 yen.

CURRENCY NEWS: The Japanese yen was little changed around upper-154 level against greenback on Monday, on prospects that the interest rate differential between the United States and Japan will remain wide as the Federal Reserve is expected to keep interest rates elevated amid persistent inflation. The yen was last quoted at 154.70 per US dollar on Monday compared with 154.64 on last Friday.

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