A slight rise in Japanese stocks as investors await the directions of BoJ and Fed

Japanese stocks posted little gains at the close on Monday, as investors warned ahead of a week in which important US and global economic data and comments from the Bank of Japan’s new leadership team are expected.

The Nikkei rose at the close, 0.07 percent, to record 27,531.94 points, and remained near the middle of the range in which it has been moving since January 24.

The broader Topix index rose 0.39 percent, recording 1,996.78 points.

The reason for the Nikkei’s modest gains is likely due to the weakness of heavyweight stocks on the index, such as shares of chip companies, which tracked the impact of Wall Street’s decline on Friday, while the rise in US bond yields supported stocks in the financial sector, and Topix reaped gains.

There were also declines in energy stocks affecting the Nikkei amid a decline in oil prices, but the announcement of business results led to the Yokohama Rubber tire maker’s share achieving a significant increase of 10.2 percent.

There were 225 shares listed on the Nikkei, with 162 rising, 59 falling and four remaining stable.