Japanese market extends gain for fourth day

The Japanese stock market ended higher for the fourth consecutive session on Monday, August 8, 2022, supported by the depreciation of the yen against the US dollar and strong earnings reports from large Japanese companies.

At the closing bell, the 225-issue Nikkei Stock Average was up 73.37 points, or 0.26%, at 28,249.24. The broader Topix index of all issues in the first section on the Tokyo Stock Exchange rose 4.24 points, or 0.22%, to 1,951.41.

Shares of Bandai Namco Holdings soared 4.1% after the game maker reported a whopping 55% year-over-year increase in video game sales for its first fiscal quarter.

Camera and office equipment maker Canon climbed 4.6% after announcing its second share buyback this year.

Automaker Suzuki Motor jumped 10.4% after supporting its full-year outlook.

CURRENCY NEWS: The dollar was firm at the lower 135 yen zone as investors bought the US unit on hopes of a further widening of the interest rate spread between Japan and the United States. United following stronger-than-expected jobs data in the world’s largest economy. As of 5 p.m., the dollar stood at 134.99-99 yen, compared to 133.26-31 yen at the same time on Friday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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