TOKYO: Japanese shares gained on Monday, as a strong finish last week on Wall Street boosted risk appetite, while local investors looked to corporate earnings from automakers and other major firms for signs of progress in a pandemic-hit economy.
The Nikkei share average rose 0.55% to close at 29,518.34, while the broader Topix jumped 0.99% to 1,952.27.
Japanese automakers are set to report their earnings this week, starting with Nissan Motor on Tuesday and Toyota Motor on Wednesday, the same day as SoftBank Group.
Toyota gained 1.7%, while Nissan jumped 4.39%. SoftBank Group rose 1.7%.
Nippon Steel advanced 5.26% after issuing annual profit forecast above analysts estimate last week, helping the sector index gain 4.68%.
JFE Holdings and Daido Steel jumped 7.21% and 6.08%, respectively.
Shipping firm Nippon Yusen fell 3.18% after its annual operating profit forecast missed analysts’ expectations. Sea transport sector lost 3.24%, making it the biggest loser among the 33 sector sub-indexes.
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