Japanese shares edge higher, concerns over PM Abe's health weigh

  • Reuters
  • Stock Market News
Japanese shares edge higher, concerns over PM Abe's health weigh
Credit: © Reuters.

TOKYO, Aug 24 (Reuters) - Japanese shares inched up on Monday in line with gains in e-mini futures, but rising speculations around Prime Minister Shinzo Abe's health weighed on sentiment.

The benchmark Nikkei share average .N225 rose 0.33% to 22.996.44 by the midday break, with 105 advancers on the index against 113 decliners.

The broader Topix .TOPX gained 0.22% to 1,607.64. About half of the 33 sector sub-indexes on the Tokyo exchange traded higher.

E-mini futures for the S&P 500 EScv1 rose 0.28%, which created a tailwind to the market.

Investors were wary after Japanese Prime Minister Abe entered a Tokyo hospital to receive a follow-up medical examination from last week. week's medical check-up lasted seven-and-a-half hours, stoking concerns about Abe's ability to continue as leader due to health issues and fatigue from handling the COVID-19 crisis.

Abe, already Japan's longest-serving prime minister, surpassed a half-century-old record set by his great-uncle Eisaku Sato for the longest consecutive tenure as premier on Monday, adding to speculation he may resign after reaching the milestone. also await Federal Reserve Chairman Jerome Powell's address at the Kansas City Fed Jackson Hole symposium on Thursday for clues on the outlook for U.S. monetary policy. stocks that gained the most among the top 30 core Topix names were Nintendo Co Ltd 7974.T up 4.28 %, followed by Mitsui & Co Ltd 8031.T .

The largest percentage gainers in the index were Nissan Chemical Corp 4021.T up 2.76%, followed by Dai-ichi Life Holdings Inc 8750.T rising 2.73 % and Daikin Industries Ltd 6367.T up by 2.31%.

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