Nikkei Index Rises 0.4%, Driven by Auto and Pharma Stocks

Deep News
02/02

Japanese equities advanced, supported by a weaker yen which bolstered corporate earnings expectations. The Nikkei Stock Average climbed 0.4% to 53,534.49 points. Gains were led by automobile and pharmaceutical shares. Toyota Motor Corporation rose 2.9%, while pharmaceutical firm Shionogi & Co. gained 2.3%. The U.S. dollar was quoted at 154.92 yen, up from 154.89 yen at the close of Tokyo trading on Friday. Investors are closely monitoring quarterly earnings, with Daiwa Securities Group and Murata Manufacturing scheduled to report later on Monday. With the February 8th election approaching, Prime Minister Sanae Takaichi's economic plans are also drawing significant attention.

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