TOKYO: Tokyo shares snapped a five-day losing streak and closed higher on Thursday following Wall Street gains after US Treasury yields retreated.
The benchmark Nikkei 225 index gained 1.80 percent, or 548.48 points, to end at 31,075.36, while the broader Topix index jumped 2.02 percent, or 44.87 points, to 2,263.76.
“The US employment report was seen as a sign of easing labour supply and demand, and the US 10-year bond yield dropped against the backdrop of a sharp fall in oil prices,” Iwai Cosmo Securities said.
“The Tokyo market continued the trend of a rebound in all three major US indexes.”
The US private sector added just 89,000 jobs in September according to payroll firm ADP, and the hiring slowdown could ease pressure on policymakers to raise interest rates further.
While the 10-year US Treasury note hit a 16-year peak earlier this week, it retreated on Wednesday, providing some reprieve.
In Tokyo trading, chip-testing equipment maker Advantest soared 5.10 percent to 4,240 yen, while Uniqlo operator Fast Retailing added 1.24 percent to 31,750 yen.
Automakers were higher with Nissan jumping 2.60 percent to 606 yen and Toyota firming 4.54 percent to 2,590 yen. The dollar fetched 148.68 yen against 149.12 yen in New York on Wednesday.
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