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Japan stocks rise by most in a month on positive Chinese data

Published 2019/12/02, 04:15
Updated 2019/12/02, 04:18
© Reuters.  Japan stocks rise by most in a month on positive Chinese data
USD/JPY
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JP225
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TOPX
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5802
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5803
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7269
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6674
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6976
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5019
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By Stanley White

TOKYO, Dec 2 (Reuters) - Japanese shares rose on Monday by the most in a month after data showed China's factory activity and domestic demand picked up, easing concern about the health of the world's second-largest economy.

At 0150 GMT the Nikkei index was up 1.02% to 23,531.85, led by gains in the industrial sector and the consumer discretionary sector. So far this year the index is up 16.38%.

Japanese shares started brightly in reaction to government data released Friday that showed improvement in China's vast manufacturing sector, suggesting Beijing's stimulus measures are starting to support growth. extended gains after a separate survey of China's manufacturing sector was revised up to show the fastest growth in almost three years, but an ongoing trade war between the United States and China remains a risk to the outlook. were 205 advancers on the Nikkei index against 18 decliners on Monday.

The largest percentage gainers in the index were electrical equipment makers GS Yuasa Corp 6674.T up 3.57%, followed by Taiyo Yuden Co Ltd 6976.T gaining 3.28% and Sumitomo Electric Industries Ltd 5802.T up by 2.97%.

The largest percentage losses in the index were power cable maker Fujikura Ltd 5803.T down 2.12%, followed by oil refiner Idemitsu Kosan Co Ltd 5019.T losing 1.47% and Suzuki Motor Corp 7269.T down by 1.15%.

Some Japanese shares got a boost after reports of robust online sales in the United States on Black Friday last week, when companies offer discounts to mark the start of the year-end shopping season.

Japanese stocks also rose after the yen JPY=EBS fell to a six-month low of 109.715 versus the dollar. A weaker yen inflates exporters' earnings when repatriated from overseas.

The Topix index .TOPX rose 0.88% on Monday to 1,714.30.

The volume of shares traded on the Tokyo Stock Exchange's main board .TOPX was 0.38 billion, compared to the average of 1.26 billion in the past 30 days.

(Editing by Stephen Coates)

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