Mon, 18 Oct 2021

TOKYO, Sept. 24 (Xinhua) -- Tokyo stocks finished sharply higher on Friday, with the benchmark Nikkei index and the Topix index both surging over 2 percent after declining for two straight trading days.

The 225-issue Nikkei Stock Average finished 609.41 points, or 2.06 percent, higher from Wednesday at 30,248.81.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange closed 47.20 points, or 2.31 percent, higher at 2,090.75.

Trading volume on the main section increased to 1,425.37 million shares from Wednesday's 1,203.59 million shares.

Japanese financial markets were closed on Thursday for a national holiday.

Market sentiment has been supported since the results of the two-day U.S. Federal Reserve monetary policy meeting through Wednesday came mostly within the market consensus, as the central bank signaled to start scaling back a massive bond-buying program in November and complete tapering around the middle of next year.

By the close of play, every sector advanced ground with marine transportation, mining, and insurance issues heading the rebound. Advancing issues outnumbered declining ones 2,104 to 68 on the First Section, while 16 finished unchanged.

Following the yield on the benchmark 10-year U.S. Treasury on Thursday briefly reached its highest level since July, financial companies performed strongly the day. Mitsubishi UFJ Financial Group jumped 4.2 percent, and Sumitomo Mitsui Financial Group rose 3.3 percent.

In addition, energy-related shares were lifted by the third consecutive increase in crude oil futures in New York trading, with oil explorer Inpex advancing 3.4 percent and refiner Eneos Holdings gaining 1.5 percent.

Bucking the upward trend, some drugstores underperformed the day as the possible end to the COVID-19 state of emergency at the end of the month would reduce demand for goods to help prevent infections, brokers said.

Among them, Sugi Holdings dropped 1.2 percent, and Tsuruha Holdings ended down 1.9 percent.

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