Japan Market extends gain to 4th day

Japan share market finished modestly higher in choppy trading on Wednesday, 25 January 2023, registering fourth day of winning streak, led by shares in iron and steel, marine transportation, and utilities companies.

The 225-issue Nikkei Stock Average index advanced 95.82 points, or 0.35%, to finish at 27,395.01, its highest close since 16 Dec. 2022. The broader Topix index of all First Section issues on the Tokyo Stock Exchange inclined 7.77 points, or 0.39%, to 1,980.69.

Total 31 of 33 industry categories of the broader Topix index advanced, with Iron & Steel, Marine Transportation, Textiles & Apparels, Precision Instruments, and Glass & Ceramics Products sectors being notable gainers.

ECONOMIC NEWS: Japan's Leading Index Declines To 97.4 In November- Japan's leading index decreased more than initially estimated in November to the lowest level in nearly two years, final figures from a survey by the Cabinet Office showed on Wednesday. The leading index, which measures future economic activity, dropped to 97.4 in November from 98.6 in the previous month. In the initial estimate, the reading was 97.6. The coincident index, which measures the current economic situation, weakened to 99.3 in November from 99.6 in the previous month. According to the initial estimate, the reading was 99.1. At the same time, the lagging index improved to 99.8 in November from 99.1 in the preceding month. The latest reading was revised down from 100.9.

CURRENCY NEWS: The yen stood at 129.74 against US dollar, appreciated 0.3% from previous day close of 130.15, after trading in the range between 129.65-130.59.

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