Tokyo – Tokyo stocks closed higher on Monday as investors took heart from US rallies and digested the Bank of Japan’s key business confidence survey.
The benchmark Nikkei 225 index advanced 0.71%, or 202.72 points, to end at 28 640.49, while the broader Topix index added 0.13%, or 2.65 points, to 1 978.13.
According to the Bank of Japan’s latest quarterly Tankan business survey, major manufacturers remain cautious about the economy’s trajectory.
The survey, released 10 minutes before the opening bell, showed business sentiment in Japan was flat for the quarter as pandemic concerns lingered.
While rallies on Wall Street supported Japanese shares, some investors took a wait-and-see approach ahead of the US Federal Reserve’s meeting later this week, Okasan Online Securities said.
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The dollar fetched 113.52 yen in Asian trade, against 113.37 yen in New York on Friday.
In Tokyo trading, Uniqlo operator Fast Retailing jumped 2.58% to 69 760 yen while SoftBank Group rose 0.96% to 5 571 yen.
Toyota dropped 2.43% to 2 002 yen after reports said it would halt some output at four factories in Japan due to a parts shortage. The automaker meanwhile announced a briefing on its EV battery strategy on Tuesday.
Honda slid 0.62% to 3 207 yen despite an upwards revision of its shares by a Japanese brokerage.
Nissan was up 0.76% at 550.6 yen.
Online brokerage SBI Holdings fell 0.40% to 2 986 yen, while Shinsei Bank gained 2.51% to 1 917 yen after the pair said in separate statements that SBI had obtained enough shares in its tender offer to give it effective control of Shinsei.
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Source: AFP
Picture: Getty Images
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