Japan Shares Closed Higher, Posting 3% Weekly Gain

Japanese stocks rose on Monday thanks to the optimism that accompanied the approval of a huge US stimulus package to support stocks linked to the economic cycle, while SoftBank Group shares fell, while other technology companies recorded limited gains.

The Nikkei index rose 0.17% to close at 29,766.97 points, and the broader Topix index rose 0.91% to 1,968.73 points.

The Dow Jones Industrial Average rose to an unprecedented fifth consecutive high on Friday after the US House of Representatives finally approved a $1.9 trillion stimulus package.

Shares of transport and materials companies rose in Japan. Shipbuilder Mitsui E&S Holdings Inc. jumped 7.78%, and shipping companies Kawasaki Kesen rose 7.02% and Nippon Yusen rose 4.74%.

Anna Holdings Inc. jumped 4.43% and Japan Airlines 3.79%.

Technology stocks fell in Japan, tracking losses in the Nasdaq index, and SoftBank Group shares fell 2.49%.

Tokyo Electron lost 1.56% and Advantest 1.26%.