TOKYO: Japanese shares rose on Monday, erasing early losses, led by tech and pharma stocks as US futures rose on hopes that lawmakers would soon pass a massive economic stimulus to revive growth in the world’s largest economy.

The Nikkei share average gained 0.67% at 28.822.29, after declining 0.2% earlier, while the broader Topix inched up 0.29% to 1,862.00.

Tech shares advanced in Japan, with Toshiba surging 16.88% after the Tokyo Stock Exchange approved on Friday the electronics and infrastructure conglomerate’s return to the bourse’s first section.

Electronic components maker Alps Alpine jumped 6.12%, making it the biggest gainer on the Nikkei index, and camera maker Nikon rose 5.17%.

Drugmakers rose on renewed hopes of COVID-19 vaccine roll-outs. Takeda Pharmaceutical added 3.54% after Japan’s biggest drugmaker last week announced the start of a study of Moderna Inc’s coronavirus vaccine in the country.

Eisai rose 2.8% and Astellas Pharma gained 2.1%.

Sumitomo Corp rose 1.55% as local media reported the trading house would stop investing in new oil development projects as it shifts away from fossil fuels businesses.