Japan shares track Wall Street gains on partial U.S. stimulus hopes

  • Reuters
  • Stock Market News
Japan shares track Wall Street gains on partial U.S. stimulus hopes
Credit: © Reuters.

TOKYO, Oct 8 (Reuters) - Japanese shares rose on Thursday, following an upbeat Wall Street session overnight, as hopes for a partial deal on U.S. coronavirus stimulus boosted investor sentiment.

The benchmark Nikkei share average .N225 rose 0.91% to 23,636.35 by the midday break, with 176 advancers on the index against 42 decliners.

The broader Topix .TOPX gained 0.62% to 1,656.73.

All but three of 33 sector sub-indexes on the Tokyo exchange traded higher, with shippers .ISHIP.T , iron and steel .ISTELT and paper and pulp .IPAPR.T leading advancers on the main bourse.

After abruptly calling off negotiations on a comprehensive bill on Tuesday, President Donald Trump later urged Congress to pass piece-meal aid packages for targeted industries, small business and consumers battered by the coronavirus pandemic. stocks were also boosted by a moderate rise in E-Mini futures for the S&P 500 EScv1 , up 0.27% in Asian trade, as the U.S. vice-presidential debate kicked off.

Japan's semiconductor shares rose on positive cues from their U.S. counterparts, with Screen Holdings 7735.T jumping more than 6.6%, Advantest Corp 6857.T climbing 5.57% and Disco Corp 6146.T adding 3.13%.

Bucking the overall firmness, airlines .IAIRL.T fell 1.14%, as they have been hammered by a collapse in international air travel due to the coronavirus outbreak.

ANA Holdings 9202.T fell 1.61% after it proposed to the labour unions at its main carrier ANA to seek workers to leave voluntarily. The company also said it was cutting winter bonuses to zero and reducing monthly salaries. Japan Airlines 9201.T slipped 0.54% after its president said on Thursday the company wants to bolster discount carrier operations to capture tourism demand. the Mothers Index .MTHR of start-up firms rose 1.30%, and was set to post gains for a fourth consecutive day.

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