Japanese shares track Wall Street higher; FOMC meeting in focus

  • 12/13/2021
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Japanese equities rose on Monday, boosted by gains in heavyweight technology stocks tracking last week"s strong finish on Wall Street, although caution ahead of a U.S. central bank meeting capped gains. The Nikkei share average (.N225) rose 1% to 28,711.46 by 0208 GMT, while the broader Topix (.TOPX) gained 0.4% to 1,983.37. "But this trend may not continue after today as investors may turn cautions as the await the outcome of the FOMC (Federal Open Market Committee) meeting later in the week." Chip-related Tokyo Electron (8035.T) and Advantest (6857.T) gained 0.99% and 2.67%, respectively, while air-conditioning maker Daikin Industries (6367.T) rose 1.67%. Global technology startup investor SoftBank Group (9984.T) gained 1.45%. Orix Corp (8591.T) rose 2% after local media reported the financial services group has decided to sell software business Yayoi to U.S. private equity firm KKR & Co (KKR.N) for about 240 billion yen ($2.12 billion). Tokyo-based lender Shinsei Bank (8303.T) fell 0.53% after online financial group SBI Holdings (8473.T) succeeded in raising its stake in the bank to 47.77% from about 20% previously. Tokio Marine Holdings (8766.T), up 2.94%, was the best performer among the top 30 core Topix names, followed by Murata Manufacturing (6981.T), rising 2.38%. Recruit Holdings (6098.T), down 2.76%, was the worst performer among the top 30 Topix names, followed by Toyota Motor (7203.T), which lost 1.66%.

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