Tokyo shares close higher

TOKYO: Tokyo shares closed higher on Monday with investors picking up growth stocks and eyeing steady gains in US futures.

The benchmark Nikkei 225 index added 0.98 percent, or 262.49 points, to end at 27,001.52, while the broader Topix index climbed 0.92 percent, or 17.20 points, to 1,894.57.

“The decline in long-term US interest rates (on Friday) was a positive factor, which prompted the buying of growth stocks” in Japan, Okasan Online Securities said.

Tokyo shares open lower tracking US losses

“The Nikkei index temporarily jumped over 300 points and recovered to the 27,000-level,” it said.

The Tokyo market was supported by gains of stocks including Uniqlo operator Fast Retailing, which rose 1.37 percent to 60,450 yen.

Industrial robot maker Fanuc added 2.09 percent to 20,950 yen, and chip-making equipment manufacturer Tokyo Electron climbed 0.53 percent to 58,700 yen.

Shipping companies ended higher with Mitsui OSK Lines jumping 3.55 percent to 3,495 yen and Nippon Yusen Kaisha growing 2.50 percent to 10,240 yen.

Sony Group lost 0.65 percent to 11,450 yen.

The dollar fetched 127.77 yen, against 127.86 in New York on Friday.