Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Japan shares rally as reopening hopes boosts travel, real estate firms

06/01/2021 | 11:21pm EST

TOKYO, June 2 (Reuters) - Japanese shares advanced on Wednesday as the hospitality sector gained after accelerating vaccinations boosted economic reopening hopes, while shares of carmakers scaled new highs due to stronger global demand.

The Nikkei share average rose 0.46% to 28,946.84, while the broader Topix gained 0.85% to 1,942.50.

While Japan last week extended its social restriction measures to later this month, investors are looking beyond, with signs of pickup in vaccination fuelling their bets on economic reopening.

"Daily vaccination counts are now hitting about 500,000, so we can hope that by mid-July, we could reach a level where new infections should fall because enough number of people will have been vaccinated," said Nobuhiko Kuramochi, market strategist at Mizuho Securities.

Railway companies were among the best performers, with West Japan Railway jumping 5.0% and East Japan Railway soaring 3.9%.

Airliner ANA Holdings gained 2.9%, while rival Japan Airlines followed close with rise of 2.6%.

The real estate sector was another strong performer, with Sumitomo Realty & Development adding 4.0% while Mitsui Fudosan rose 3.9%.

Real estate investments trusts (REITs) were also in demand, with their index — TSE REIT Index — rising 1.1% to come within their 14-month intraday peak hit about a month ago.

Automakers shone, as carmakers globally benefit from demand recovery and from hopes that the worst of chip shortage may be over soon.

Honda Motor rallied 4.2% to hit a three-year high, while Toyota Motor extended its uptrend to scale a record high.

On the other hand, investors also rotated out of shares that had benefited from windfalls following the pandemic.

Furniture store operator Nitori Holdings lost 3.3% to one-year low while medical equipment maker Sysmex shed 3.0%.

Drugmakers also came under pressure, with Daiichi Sankyo dropping 1.4% to a 13-month low and Ono Pharmaceutical down 1.0% at a 14-month low. (Reporting by Hideyuki Sano)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANA HOLDINGS INC. 5.14% 2321.5 End-of-day quote.1.95%
DAIICHI SANKYO COMPANY, LIMITED 0.26% 2846.5 End-of-day quote.-19.48%
EAST JAPAN RAILWAY COMPANY 4.07% 6957 End-of-day quote.1.05%
HONDA MOTOR CO., LTD. 0.53% 3199 End-of-day quote.11.17%
JAPAN AIRLINES CO., LTD. 5.46% 2125 End-of-day quote.6.52%
MITSUI FUDOSAN CO., LTD. 3.38% 2449 End-of-day quote.13.46%
NIKKEI 225 -0.36% 27927.37 Real-time Quote.1.13%
NITORI HOLDINGS CO., LTD. 1.41% 18330 End-of-day quote.-15.22%
ONO PHARMACEUTICAL CO., LTD. 1.41% 2585 End-of-day quote.-16.83%
SUMITOMO REALTY & DEVELOPMENT CO., LTD. 2.52% 3587 End-of-day quote.12.76%
SYSMEX CORPORATION -2.23% 14025 End-of-day quote.13.10%
TOYOTA INDUSTRIES CORPORATION 2.84% 9410 End-of-day quote.14.90%
TOYOTA MOTOR CORPORATION 1.64% 2079 End-of-day quote.30.64%
WEST JAPAN RAILWAY COMPANY 2.87% 4870 End-of-day quote.-9.80%
Latest news "Economy & Forex"
02:35aUK new car sales edge up in November - preliminary data
RE
02:33aLondon Stock Exchange acquires Quantile
RE
02:31aBitcoin below $50,000, at early October levels, after weekend's battering
RE
02:23aMourners put wreaths on coffins of Indians mistakenly killed by security forces
RE
02:20aS.Africa's Nedbank projects 90% increase in full year profit
RE
02:13aTAKE FIVE : Where's Santa?
RE
02:10aWeaker foreign demand sinks German industrial orders in October
RE
02:08aMTN Uganda shares up 3% minutes after listing on Ugandan bourse
RE
02:00aRussian Deposit Insurance Agency says rouble deposits boosted by rate hikes
RE
01:54aSaint-Gobain buys U.S.-based GCP to grow in construction chemicals
RE
Latest news "Economy & Forex"