Nikkei posts biggest monthly gain in 27 years

TOKYO: Japan's benchmark Nikkei closed lower on Monday but posted its biggest monthly gain in nearly 27 years, as optimism over progress in Covid-19 vaccine development and fading uncertainty surrounding the US election boosted risk appetite.

The Nikkei share average ended 0.79% lower at 26,433.62, snapping its four consecutive sessions of gains. But the index saw a 15% jump in November, its biggest monthly gain since January 1994.

The broader Topix also marked its best month since April 2013, but closed 1.77% lower at 1,754.92. Aviation and land transport sectors took a hit, falling 3.59% and 2.29%, respectively, due to the rising number of domestic coronavirus cases. The Mothers Index of start-up firms added 1.77%.