Japan shares end higher as traders await more U.S. stimulus

  • Reuters
  • Stock Market News
Japan shares end higher as traders await more U.S. stimulus
Credit: © Reuters.

By Stanley White

TOKYO, Sept 25 (Reuters) - Japanese stocks rose on Friday, tracking tech-led strength on Wall Street overnight as hopes for more U.S. stimulus offset some concerns about the health of the global economy.

The Nikkei 225 Index .N225 ended 0.51% higher at 23,204.62. The broader Topix .TOPX gained 0.48% to 1,634.23.

For the week, however, the benchmark fell 0.67%, as some analysts warned that worries about a second wave of coronavirus cases in Europe could limit further upside for Japanese shares.

Supporting sentiment on the day, a top U.S. lawmaker said Democrats in the House of Representatives were working on a $2.2 trillion coronavirus stimulus package that could be voted on next week. much as $380 billion from the U.S. Congress' last big coronavirus aid package is unused and could help households and businesses if lawmakers approve, Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin said. high-tech shares rose, tracking overnight gains in U.S. bellwethers such as Apple Inc AAPL.O , Amazon.com Inc AMZN.O , Nvidia Corp NVDA.O and Facebook Inc .FB.O .

Investors also bought shares before the next round of corporate earnings to ensure they are eligible to receive dividends on their holdings, traders and analysts said.

Among the top 30 core Topix names, electric parts maker Keyence 6861.T and automaker Toyota Motor Co 6981.T gained the most, up 2.16% and 1.73%, respectively.

The biggest underperformers were East Japan Railway Co 9020.T , down 3.56%, and Central Japan Railway Co 9022.T , which shed 2.85%.

There were 148 advancers on the Nikkei index against 69 decliners on Friday.

The volume of shares traded on the Tokyo Stock Exchange's main board .TOPX was 1.28 billion, compared with the average of 1.14 billion in the past 30 days. (Editing by Devika Syamnath)

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