Japan Indexes Rebounded 1.5% as Politicians Negotiate Policy Outlines Ahead of Diet Session

Akira Ito
25 Nov, 2024
Tokyo

Stock market indexes in Monday's trading advanced for the second session in a row, mirroring gains in New York. 

The Nikkei 225 stock average gained 1.7%, and the broader Topix index increased 1.1% following strong U.S. economic data and continued optimism about the U.S. election results. 

Investors also reviewed the announcements from the ruling LDP-led coalition supporting additional stimulus supporting low-income populations and raised the income tax threshold from 1.03 million yen, or about $6,600, ahead of the start of the next Diet session on November 28. 

The Japanese yen traded at 154.74 against the U.S. dollar amid growing speculation that the finance ministry and the Bank of Japan may be forced to conduct a second market intervention this year. 

 

Japan Stock Movers 

The Nikkei 225 index soared 1.7% to 38,933.83, and the broader Topix index advanced 1.1% to 2,725.96. 

Tech stocks were among the leading gainers in Tokyo following a rise in the tech sector in Friday's trading in New York. 

Tokyo Electron increased 4% to ¥23,130.0, Advantest Corp fell 2.4% to ¥9,221.0, Disco Corp. inched higher 0.6% to ¥42,860.0, and Lasertec Corporation gained 2% to ¥17,660.0. 

Toyota Motor gained 1.4% to ¥2,702.50, Honda Motor inched higher 0.5% to ¥1,369.50, and Nissan Motor fell 0.1% to ¥406.20. 

Bank stocks hovered near record highs amid expectations of higher interest rates over the next year. 

Sumitomo Mitsui Financial increased 1.6% to ¥3,721.0, Mitsubishi UFJ advanced 0.01% to ¥1,825.50, and Mizuho Financial edged down 0.3% to ¥3,828.0. 

Keisei Electric Railway jumped 14% to ¥4,381.0, and Keikyu Corp advanced 10.5% to ¥1,351.50 following the news that the activist investor Yoshiaki Murakami has taken stakes in both railroad operators. 

Oriental Land jumped 3% to ¥3,483.0 in the hopes that the activist investor Murakami will convince Keisei to sell its stake in the struggling Tokyo Disneyland operator.