TOKYO: Japan’s Nikkei share average ended higher on Tuesday, tracking Wall Street’s strong finish overnight, while losses in chip-related stocks capped gains.
The Nikkei snapped two straight sessions of losses to end 0.64% higher at 40,549.54. The broader Topix climbed 0.7% at 2,936.54. On Monday, all three major US stock indexes logged their steepest daily percentage climb since May 27, as investors sought bargains after Friday’s selloff and ramped up bets for a September rate cut following a weaker-than-expected jobs data.
In Japan, Mitsubishi Heavy Industries jumped 5.72% as the heavy machinery maker clinched a landmark A$10 billion ($6.5 billion) deal to build Australia’s next-generation warships.
Technology investor SoftBank Group rose 2.68% to lend the strongest boost to the Nikkei. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange’s (TSE) prime market, 74% rose, 21% fell and 3% traded flat.
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