Japan share market finished session higher on Tuesday, 25 August 2020, as risk appetite buying supported by following a Wall Street overnight rally driven by vaccine hopes. Also supporting the mood were statements from both China and the United States saying top-level trade representatives had held constructive talks over the future of the Phase 1 trade deal.
At closing bell, the 225-issue Nikkei Stock Average added 311.26 points, or 1.35%, to 23,296.77. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 18.10 points, or 1.13%, to 1,625.23.
Total 30 issues of the 33 industry category of Topix index ended into black territory, with Air Transportation, Textiles & Apparels, Banks, Real Estate, Iron & Steel, and Marine Transportation issues being notable gainers, while Precision Instruments and Pharmaceutical issues were notable losers.
Markets worldwide were boosted when U. S. regulators on Sunday authorised the use of blood plasma from recovered Covid-19 patients as a treatment option. The U.
S. Food and Drug Administration's move was hailed by President Donald Trump.
Aiding market sentiment was a report the Trump administration is considering fast-tracking an experimental COVID-19 vaccine developed by AstraZeneca Plc and Oxford University for use in the United States ahead of the nation's upcoming presidential election.
Top trade representatives from the U. S. and China had a call recently to discuss the implementation of the phase one agreement between the two economic powerhouses, according to the Office of the U. S. Trade Representative as well as Chinese media.
CURRENCY: The Japanese yen traded at 106.27 per dollar after seeing levels below 105.5 against the greenback last week.
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