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Nikkei 225 Up 1.01% on Stronger Japan, China Financial and Factory Reports

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Last updated: 12/02/2019 04:53:01

04:53 AM EST, 12/02/2019 (MT Newswires) -- The Nikkei 225 opened higher and gained in trading, finishing up 1.01% after a string of optimistic financial and industrial reports were issued in Tokyo and Beijing. Pre-bell, Japan officials released a report that companies raised capital spending in Q3 for the the 12th-consecutive quarter. Sentiment improved further during market hours after a Caixin/Markit survey revealed November manufacturing activity In China was expanding more than expected. Also, Beijing released a report Saturday suggesting improving factory activity. In addition, the Japanese yen lost ground to the US dollar, considered a positive in export-oriented Japan.

The benchmark Nikkei 225 rose 235.59 to 23,529.50, as gaining issues outnumbered losers 197 to 23.

Leading the upside were battery-maker GS Yuasa (GYUAF, 6074:Tokyo), up 4.0%, followed by electronics-and-materials manufacturer Taiyo Yuden (TYOYY, 6976:Tokyo), up 3.8%, and then industrial-and-engineering concern Hitachi Zosen (HTHIY, 7004:Tokyo), up 3.6%.

On the downside were electrical-equipment maker Fujikurua (FKURF, 5803:Tokyo), off 2.6%, and then Suzuki Motors (SZKMF, 7269:Tokyo), off 2.1%.

In economic news, Japan companies increased capital spending by 7.1% in Q3, year-over-year, considered a strong showing,

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