RTTNews - The stock market in Japan ended in positive territory on Thursday after the US Federal Reserve kept the interest rates unchanged and stated that the U.S economy is leveling out. The strengthening of the green back against the local currency, as well as positive trading across the other markets also lifted market sentiment.
The benchmark Nikkei 225 Index ended the session at 10,517, up 82.19 points, or 0.79%, while the broader Topix index of all first section stocks gained 8.54 points, or 0.89% and closed at 968.
Light sweet crude oil price for September delivery ended at $70.75 a barrel in electronic trading, up $0.59 from its previous close $70.16 a barrel in New York on Wednesday.
Automakers and exporters advanced after the local currency weakened against the greenback. Toyota Motor Corp. gained 1.49%, Honda Motor rose 1.32%, Suzuki Motor advanced 1.77% and Nissan Motor increaesed 1.83%.
Denso Corp., a maker of car parts, surged up 3.43% after Mitsubishi UFJ Financial lifted the stock to strong outperform from market perform.
Trading companies also ended in positive territory. Toyota Tsusho Corp. gained 1.82%, Sumitomo Corp. advanced 1.34% and Mitsubishi Corp. added 0.42%.
Kawasaki Heavy Industries, manufacturer of high-speed trains, gained 6.91% after Nikkei newspaper reported that Vietnam is planning to utilize the high-speed technology being used by the company.
Banking stocks ended in positive territory. Mitsubishi UFJ Financial added 0.50%, Mizuho Financial advanced 0.43% and Sumitomo Mitsui Financial advanced 0.98%. However, Resona Holdings bucked the trend and edged down 0.08%.
Toray Industries surged up 5.97% following news that the company, in association with Hoshi University, developed an insulin spray for treatment of diabetes.
In the U.S., stocks ended in positive territory on Wednesday following comments from the US Federal Reserve that the economy is leveling out. Further, the Federal Open Market Committee, the policy-making arm of the Federal Reserve, announced Wednesday that it was maintaining the target range for its benchmark federal funds rate at zero to 0.25 percent.
The Dow jumped by 120.16 points or 1.3% to 9,362, the Nasdaq climbed by 28.99 points or 1.5% to 1,999 and the S&P 500 rose by 11.46 points or 1.2% to 1,006.
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