Japanese shares jump to 1-month high on Hong Kong, Brexit, US-China trade news

  • Reuters
  • Stock Market News
Japanese shares jump to 1-month high on Hong Kong, Brexit, US-China trade news
Credit: © Reuters.

By Tomo Uetake

TOKYO, Sept 5 (Reuters) - Japanese shares advanced to a one month-high on Thursday as investors cheered some easing tension in Hong Kong, British lawmakers' vote against a "no-deal" Brexit and signs of progress in U.S.-China trade talks.

The benchmark Nikkei average .N225 gained as much as 2.5% to 21,157.15 in the morning session, its highest level since Aug. 2, while the broader Topix .TOPX rose as much as 2.3% to 1,540.59, its highest in a month.

Risk appetites were improved by news that Hong Kong leader Carrie Lam withdrew an extradition bill that had triggered months of often violent protests in the Asian financial hub and that British lawmakers voted to prevent a no-deal Brexit on Oct. 31. market extended early gains after Beijing said China and the United States agreed to hold trade talks in Washington in early October. of the Tokyo Stock Exchange's 33 subsectors were in positive territory as the market attracted hefty purchases across the board.

Cyclical sectors were particularly in demand, with sea transport .ISHIP.T , electrical machinery .IELEC.T and precision machinery .IPRCS.T the top three performing subindexes on the Topix, up between 3.2 and 3.7%.

Other notable movers include TSE REIT index .TREIT , edging up 0.3% higher to hit a fresh 12-year high since 2007. Inc 2413.T soared 11.4% and Tokyo Dome Corp 9681.T dived 7.0% after index provider Nikkei announced it will drop the baseball stadium operator from the Nikkei 225 share average and replace it with the medical-related service provider, from Oct 1.

Candidates which did not make the list were down, due to disappointment. Kakaku.com 2371.T , Zozo 3092.T and Nintendo 7974.T shed 5.5%, 1.7% and 1.2%, respectively.

Nissan Motor Co 7201.T gained 2.6% despite media reports quoting its chief executive as admitting to improperly receiving stock-related compensation, in the latest case of financial misconduct among executives at Japan's second-largest automaker.

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