Japan Shares Closing Higher as Attention Shifts to Corporate Earnings

Japanese stocks gained on Monday, as the strong closure of Wall Street last week boosted risk appetite, while investors awaited the results of the businesses of carmakers and other major companies for signs of progress in the economy hit by the pandemic.

The Nikkei index rose 0.55% to close at 29,518.34 points, while the broader Topix index jumped 0.99 to 1,952.27 points.

The Dow and Standard & Poor’s 500 indices hit unprecedented levels on Friday after surprising slow growth of the US labor market eased concerns about a possible rate hike.

Japanese automakers are set to announce their results this week, with Nissan Motor announcing its results first on Tuesday, followed by Toyota Motor on Wednesday, and Softbank Group announcing its results on the same day.

Toyota shares rose 1.7%, Nissan rose 4.39% and Softbank advanced 1.7%.