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Flagship stocks in the Japanese market were up on Monday, October 1, 2018, as investors were encouraged by the weakness of the yen against the dollar, as stocks in the drug, consumer and electronics sectors registered significant gains. However, market gains were limited by concern over the budget plan of the widening Italian deficit and after the publication of the Bank of Japan survey, which showed that confidence companies of the country's leading manufacturers were down for the third consecutive quarter. Around the late afternoon trade, the Nikkei index, which has 225 numbers, rose 143 points, or 0.6%, to 24,263.07. The broader Topix index of all issues of the first section of the Tokyo Stock Exchange added 3.42 points, or 0.2%, to 1,820.67. The Nikkei index has reached its highest level since November 1991.
Shares of major exporters rose, supported by weak Japanese yen and earnings expectations, Panasonic up nearly 2%, Mitsubishi Electric up 0.6% and Canon up 0.5 %, while Sony dropped nearly 1%.
Shares of Honda Motor fell 0.5% after the automaker announced last Friday that it would recall 1.4 million US cars to replace Takata's front passenger air bag inflators.
Stocks of drugs, consumer products and electronics also rose, with drug maker Shionogi up 1.8% and chip maker Tokyo Electron up 3.3%.
NEWS: The Japanese yen depreciated Monday at mid-113 against the greenback, while the demand for Safe Eyes units has faded, after the data has reinforced the optimistic outlook regarding the US economy and supported the signal from the Federal Reserve to continue to raise its key rates next year. . US gross domestic product grew 4.2% in the second quarter, the fastest in nearly four years, according to government data released Thursday.
Another report showed that durable goods rose 4.5% in August after falling 1.2% the previous month. The dollar traded at 113,395 yen after gaining about 0.6% overnight at 113.47, its highest level since December 2017.
OFFSHORE MARKET NEWS, the US stock market closed on Friday because of the uncertainty surrounding trade, while the United States and Canada approached September 30 to reach a trade agreement between the United States and the United States. Mexico. The Dow Jones Industrial Average edged up 18.38 points or 0.1% to 26,458.31 and the Nasdaq rose 4.38 points or 0.1% to 8,046.35, while the S & A P 500 dropped 0.02 point to 2,913.98.
Major European markets ended lower on Friday. The German DAX index fell 1.5%, the French CAC 40 index of 0.9% and the UK FTSE 100 index of 0.5%.
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(This story has not been changed by Business Standard staff and is generated automatically from a syndicated feed.)
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