:::LALKAR GROUP::::

Japan stock market finished the session modestly higher on Thursday, 01 June 2023, as investors chased for value buying amid improved investor sentiment on news the U.S. House of Representatives passed a deal to temporarily suspend the country's debt limit.

A majority of the U.S. House of Representatives voted on Wednesday to approve a bipartisan bill to suspend the government's $31.4 trillion debt ceiling, just five days before the deadline to avoid a crippling default. Voting continued on the legislation, which must also be approved by the Democratic-majority Senate before President Joe Biden can sign the measure into law.

The 225-issue Nikkei Stock Average index advanced 260.13 points, or 0.84%, to finish at 31,148.01. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 18.66 points, or 0.88%, to 2,149.29.

ECONOMIC NEWS: The manufacturing sector in Japan climbed back into expansion territory in May, the latest survey from Jibun Bank revealed on Thursday with a manufacturing PMI score of 50.6. That's up from 49.5 in April, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

CURRENCY NEWS: The dollar stood at 139.72 yen in late Tokyo trade on Thursday, up 0.3% from 139.34 yen on WEdnesday, after trading in-between 138.96-139.78.

Japan's financial authorities met earlier this week in the wake of the yen's slide to a six-month low against the U.S. dollar, where the country's top diplomat said that Japan will closely watch currency moves and won't rule out any options.