TOKYO: Japanese shares jumped on Tuesday as investors shrugged off data showing the economy slipped back into contraction, and picked up stocks whose valuations took a beating in recent sell-offs.
The Nikkei share average advanced 2.09% to close at 28,406.84, recovering from a four-month low hit last week, while the broader Topix added 1.54% to 1,907.74.
Recruit Holdings, the seventh-biggest Japanese company by market capitalisation, jumped 7.19% after the staffing agency gave a strong outlook for the current financial year.
Mitsubishi UFJ Financial Group rose 2.3% after the country’s top banking group announced a dividend hike and a stronger-than-expected profit forecast for the current year.
Chipmaking equipment maker Tokyo Electron, which has lost 6.29% this month despite strong results, gained 1.3%.