TOKYO: Japanese shares rebounded on Monday, led by cyclical stocks on renewed hopes of a swift global economic recovery, while industry bellwether Yaskawa Electric jumped after raising its annual profit forecast.
The Nikkei share average climbed 2.25% to close at 28,569.02, while the broader Topix advanced 2.14% 1,953.33.
Both the indexes gained the most in three weeks, bouncing back after three straight sessions of falls to a near eight-week low on Friday.
Shares of Yaskawa Electric, a robot maker seen as a leading indicator on Japanese manufacturers’ earnings trend, jumped 6.47% after the company raised its annual operating profit forecast by 29%. Peer Fanuc climbed 6.6%.
Makers of industrial machinery, housing instruments and electric machineries led the rebound after Japan’s machinery orders rose for a third straight month in May.
Fanuc was the top gainer on the Nikkei, followed by Yaskawa and materials maker Showa Denko, which rose 5.66%.
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