TOKYO, March 1 (Xinhua) — Japan’s benchmark Nikkei stock index closed increased Wednesday as sturdy Chinese manufacturing information bolstered investor sentiment with machinery-linked points right here outperforming.
The 225-issue Nikkei Stock Average gained 70.97 factors, or 0.26 %, from Tuesday to shut the day at 27,516.53.
The broader Topix index, in the meantime, added 4.53 factors, or 0.23 %, to complete at 1,997.81.
Local brokers mentioned the market temper was buoyed by China’s manufacturing buying managers’ index Wednesday exhibiting that the world’s second-largest financial system’s manufacturing exercise in February grew on the quickest tempo in a decade.
According to China’s National Bureau of Statistics, the manufacturing buying managers’ index soared to 52.6 in February, in comparison with median economists’ forecasts for the index to achieve 50.5, market analysts right here highlighted.
“The figure came out stronger than expected, and this shows the resilience of the Chinese economy that impacted the Japanese market,” Koichi Fujishiro, a senior economist at Dai-ichi Life Research Institute, was quoted as saying.
As the information and expectations for manufacturing exercise to proceed to broaden in China, home machinery-oriented points have been snapped up.
These included development equipment producer Komatsu rising 2.9 % and Hitachi Construction Machinery leaping 4.4 %.
Nikkei heavyweight Fanuc and fellow industrial robotic maker Yaskawa Electric each discovered favor on the information, advancing 2.1 and 4.3 %, respectively.
Semiconductor points have been additionally in demand, with chip-testing tools maker Advantest closing up 2.3 %, whereas chip-manufacturing tools maker Tokyo Electron ended 1.8 % increased.
But heavily-weighted element Fast Retailing, operator of the Uniqlo clothes retailer chain, weighed in the marketplace, retreating 1.1 %.
Drugmakers have been additionally bought, with Chugai Pharmaceutical down 2.1 % and Daiichi Sankyo slipping 1.5 %.
Shipping companies additionally got here underneath stress, with Nippon Yusen dropping 1.7 %, whereas Mitsui O.S.Ok. Lines misplaced 1.5 %.
By the shut of play, equipment, nonferrous metallic and iron and steel-linked points comprised those who gained probably the most.
The turnover on the third buying and selling day of the week got here to 2,788.33 billion yen (20.54 billion U.S. {dollars}).