Investing.com - Financial Markets Worldwide
🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Nikkei rises on virus drug hopes, auto stocks surge

Published 07/13/2020, 11:44 AM
Updated 07/13/2020, 11:50 AM
JP225
-
GILD
-
TOPX
-
7211
-
7261
-
7267
-
6506
-
IAIRL.T
-
IMING.T
-
ISTEL.T
-

TOKYO, July 13 (Reuters) - Japanese shares rose on Monday,
tracking Wall Street's rally on Friday as a positive analysis on
a potential COVID-19 drug offset investor fears over a surge in
virus cases, while auto shares were lifted by upbeat industry
data from China.
The benchmark Nikkei share average .N225 gained 1.73% to
22,677.25 by the midday break, rebounding from a one-week low
hit on Friday.
On the Nikkei index, there were 214 advancers against 10
decliners.
In the broader market, Topix .TOPX rose 2.02% to 1,566.15
by the recess, with all 33 sector sub-indexes on the Tokyo
exchange trading higher.
U.S. stocks gained on Friday as Gilead Sciences Inc 's
GILD.O antiviral remdesivir showed reduced risk of death in
severely ill COVID-19 patients, but clinical trials were needed
to confirm the benefit. The Nasdaq posted its sixth record closing high in seven
days, up 0.66%, while the Dow and the S&P 500 added 1.44% and
1.05%, respectively.
Highly cyclical iron and steel .ISTEL.T , mining .IMING.T
and airlines .IAIRL.T were the three top performers on the
main bourse.
Japan's auto stocks performed strong, as the data by China
Association of Automobile Manufacturers showed the world's
biggest vehicle market expanded by 11.6% in June from a year
earlier and registered strong growth for a third consecutive
month. Mazda Motor Corp 7261.T spiked 8.44%, while Honda Motor Co
Ltd 7267.T and Mitsubishi Motors Corp 7211.T gained around
6.20% each.
Bucking the overall gains, Yaskawa Electric Corp 6506.T
dropped 2.07% following a 21.6% drop in March-May group
operating profit to 6.23 billion yen, that still beat its 4
billion yen forecast made in April.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.