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Nikkei 225 Up 1.5% on Wall Street Cues, Earnings Season, Softer Yen

· 02/05/2021 00:00

04:48 AM EST, 02/05/2021 (MT Newswires) -- The Nikkei 225 opened higher Friday on Wall Street cues and gained in trading, as a generally good earnings season provided support to index members. The yen depreciated against the US dollar, regarded as a positive in export-oriented Japan. Investors also weighed prospects for the Biden Administration's $1.9 trillion fiscal stimulus package.

The Nikkei 225 rose 437.24 to 28,779.19, as gaining issues outnumbered losers 169 to 48.

Leading the upside was Mazda Motor (MZDAY, 7261:Tokyo), up 18.5% after issuing an improved financial outlook. Also gaining were camera-house Rioch (RICOY, 7752:Tokyo), up 11.2%, and then IT-giant NTT Data (NTDTY, 9613:Tokyo), up 9.5%, after Nomura Securities raised it target price on the company's shares.

On the downside were Furukawa Electric (FUWAY, 5801;Tokyo), off 7.4%, and then shipper Kawasaki Kisen Kaisha (KAIKY, 9107:Tokyo), off 4.4%.

The Nikkei 225 is up 4.9% year-to-date.

The Tokyo Stock Exchange REIT Index rose 0.4% on the day.

In economic news, Japan household spending fell 5.3% in 2020 from 2019, as the COVID-19 pandemic and related business and travel restrictions cut consumer outlays.

In other news, Japan's beverage-maker Kirin (KNBWY, 2503:Tokyo) disclosed it will end two joint ventures in Myanmar, due to the military coup that took place in the Southeast Asian nation this week.