Nikkei 225 Up 0.7% on Earnings, Wall Street Cues

MT Newswires · 08/01/2022 17:50

05:48 AM EDT, 08/01/2022 (MT Newswires) -- The Nikkei 225 opened evenly Monday and rose to the close, finishing up 0.7% as traders weighed a generally good earnings season and a strong Wall Street close on Friday. The upside was capped by a stronger yen, which pressured export issues.

The Nikkei 225 rose 191.71 to 27,993.35 as gaining issues outnumbered losers 176 to 45. The yen appreciated to 131.96 to the dollar.

Leading the upside, all after reporting earnings, were Sumitomo Pharma (DNPUF, 4506:Tokyo), up 8.1%, followed by plumbing-fixtures maker TOTO (TOTDF, 5302:Tokyo), up 7.2%, and then spice-house Ajinomoto (AJINY, 2802: Tokyo), up 6.4%.

On the downside were electronics-shop Alps Alpine (APELY, 6770:Tokyo), off 13.4%, and then electronics-giant Fujitsu (FJTSY, 6702:Tokyo), off 6.8%, both after reporting earnings.

In other news, Japan authorities may raise the nation's minimum wage to 960 yen ($7.27) or more in fiscal 2022, from the present 930 yen, reported The Mainichi newspaper.

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