Japanese shares gain on upbeat corporate outlook, U.S.-China talks in focus

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TOKYO, Nov 16 (Businesshala) – Japanese shares rose on Tuesday, as investors scooped up companies with an upbeat outlook, though gains narrowed on caution ahead of the outcome of a US-China summit.

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The Nikkei share average rose 0.2% to 29,839.25 GMT by 0221 GMT, having risen as much as 0.6%. Broader Topics rose 0.4% to 2,056.65.

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“After the earning season is over, the money has been shifted to stocks with a positive outlook. Investors want to buy companies with strong fundamentals even after the just-ended quarter.

“Investors are (now) waiting for the outcome of the (summit) online between the leaders of the US and China. If they can avoid a confrontation between the two countries, it is likely that the trend of global economic recovery will continue.

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According to a report in Chinese state media, both Nikkei and Topix sharpened their gains when Chinese President Xi Jinping told US President Biden in a virtual meeting that the two countries should strengthen communications and co-exist peacefully. must exist.

Toyota Motor led Topix’s profit, up 2.19%, as the automaker said last week it faced a supply crunch in December to maintain its plan to produce 9 million vehicles worldwide during the fiscal year. started preparing for production.

Chip-related Tokyo Electron and Murata Manufacturing grew 1.01% and 3.04%, respectively.

The insurer climbed with a rise in US Treasury yields, with T&D Holdings up 3.33% and Dai-ichi Life Holdings up 2.5%.

Recruit Holdings, a staffing agency that moved into the US via employment site, fell 2.99% even after posting a half-year profit jump. (Editing by Uttaresh V)

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