Tokyo’s benchmark Nikkei index closed up more than 1.8 percent on Monday as investors bought on dips, while focusing on corporate earnings due this week.
The Nikkei 225 index rose 1.82 percent, or 497.43 points, to 27,781.02, while the broader Topix index advanced 2.05 percent, or 38.97 points, to 1,940.05. “It was a natural rebound as players bought back shares following Friday’s plunge,” Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP.
“Now investors are focusing on corporate results as big companies are releasing their earnings,” Horiuchi said.
Toyota, Sony Group and Nintendo are scheduled to issue earnings reports this week. The dollar fetched 109.65 yen in Asian afternoon trade, against 109.66 yen in New York late Friday. Toyota, which will announce its first quarter results on Wednesday, jumped 2.29 percent to 10,030 yen, but Nissan fell 0.41 percent to 628.3 yen. Mitsubishi Heavy Industries rose 0.57 percent to 3,162 yen after the firm said it returned to the black in the three months to June but left its full year outlook unchanged.
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