TOKYO: Tokyo shares ended higher on Monday with investors seeking bargains as they waited for the Japanese corporate earnings season to kick into full gear.
The benchmark Nikkei 225 index reversed earlier losses and advanced 0.24 percent, or 66.11 points, to 27,588.37, while the broader Topix index gained 0.14 percent, or 2.69 points, to 1,929.87.
The dollar stood at 113.84 yen, against 113.70 yen in New York late Friday.
The Nikkei began the day under pressure after New York shares saw sharp selloffs on Friday. “But once the initial round of selling subsided, bargain hunting kicked in and gradually slowed the speed of the market’s fall,” Okasan Online Securities said in a note. “Toward the end of the session, the market lifted itself up into positive territory” with nearly 70 percent of listed shares chalking up gains, led by the mining and maritime transportation sectors. Still, global investors remain wary of negative news such as signs of slowdown and inflation hitting the US economy, Rakuten Securities said in a note.
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