TOKYO: Japanese shares ended higher on Tuesday as investors bought consumer goods companies and property developers on expectations that they would benefit from an economic recovery from the COVID-19 pandemic. The Nikkei 225 Index climbed 0.99% to 29,027.94. The broader Topix rose 1.27% to 1,917.68.
Consumer cyclicals and property firms underpinned the gains, driven by optimism that the sectors would perform better as a recovery in the domestic economy gathers pace.
Technology shares fell in early trade as some investors booked profits before the close of the fiscal year on March 31, but the sector reversed course to end higher in a sign that overall sentiment remains positive.
Domestic equities have weakened in the past few sessions after rallying to a more than 30-year high last month, which some investors said was a sign of excessive froth.
The stocks that gained the most among the top 30 core Topix names on Tuesday were Honda Motor Co Ltd, gaining 3.68%, followed by Astellas Pharma Inc, rising 3.64%.