Roundup: Tokyo stocks close higher as Wall Street's tech-share rebound lifts mood

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TOKYO, Sept. 25 (Xinhua) -- Tokyo stocks closed higher Friday as a tech-share rebound on Wall Street overnight bolstered investor sentiment here and saw related issues gain traction.

The 225-issue Nikkei Stock Average gained 116.80 points, or 0.51 percent, from Thursday to close the day at 23,204.62.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 7.79 points, or 0.48 percent, to finish at 1,634.23.

Technology shares gaining on Wall Street overnight helped bolster the market mood here, local brokers said, with chip-makers and component makers finding favor.

Adding to a predominantly upbeat mood, hopes for delayed U.S. stimulus measures to underpin the virus-hit economy were raised on reports Democrats in the House of Representatives were working on a coronavirus stimulus package worth more than 2 trillion U.S. dollars that may be put to the vote next week.

U.S. Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin have also said that U.S. Congress' unused virus aid funds, to the tune of some 380 billion U.S. dollars, could be tapped to help struggling businesses and households if approved by lawmakers.

Equity strategists said, however, that owing to the protracted delay and ongoing uncertainties in Washington regarding the approval of the stimulus measures, investors, while snapping up tech issues, still remained cautious.

"Investors did not venture to make bold moves as they remained cautious despite the halt in recent declines in U.S. shares last night," Shingo Ide, chief equity strategist at the NLI Research Institute, was quoted as saying.

Market strategists added that a resurgence of coronavirus cases in Europe leading to fresh economic and social restrictions caused reservations on concerns that economic activities could once again become stifled, clouding the outlook for the global economic recovery from the pandemic.

By the close of play, warehousing and harbor transportation service, glass and ceramic product, and transportation equipment issues comprised those that advanced the most.

Tech-linked issues tracking their U.S. peers higher, included component manufacturer Murata adding 1.3 percent, while Taiyo Yuden climbed 2.5 percent.

Screen Holdings, meanwhile, also closed in positive territory, adding 2.2 percent.

Bucking the upward trend, some land transportation issues came under pressure on continued concerns about demand amid the pandemic, with Central Japan Railway Co. losing 2.8 percent, while East Japan Railway Co. ended the day 3.6 percent lower.

Issues that rose outpaced those that fell by 1,622 to 471 on the First Section, while 83 ended the day unchanged.

On the main section on Friday, 1.274 billion shares changed hands, edging down from Thursday's volume of 1.247 billion shares.

The turnover on the final trading day of the week came to 2.370 trillion yen (22.488 billion U.S. dollars). Enditem

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