TOKYO: Japan's Nikkei share average jumped on Monday, weathering the impact from downbeat US stocks late last week, as signs of a recovery in domestic corporate earnings and a relatively contained domestic Covid-19 situation lifted sentiment.
The Nikkei rose 1.39% to end at 23,295.48, erasing all of its Friday losses that took it to a two-month closing low. The broader Topix gained even more, rising 1.81% to 1,607.95 from Friday's near-three-month trough.
Makita Corp jumped 8.3% following its brisk earnings, while M3, which has more than doubled so far this year, added 2.2%.
But Murata Manufacturing dipped 1.5%, failing to maintain earlier gains on profit-taking. The company had revised up its annual estimates more than expected, citing stronger recovery in smart phone and automobile-related demand.
Cheaper, value shares attracted investors' bargain-hunting the most, with limited virus cases in Japan giving some advantage. Daily new infections remain less than one thousand compared with over ten thousands in most other G7 countries.
Japan Tobacco rose 6.0% after its earnings.-Reuters
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