Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Japanese stocks reversed course to close higher on Monday as investors hoped talks between Russia and Ukraine would yield a positive outcome, easing concerns about the economic impact of tough Western sanctions on Russia.
The Nikkei index rose 0.19 percent to close at 2,6526.82 points, after falling 0.8 percent earlier on Monday.
The broader Topix index also compensated for its previous losses, rising 0.57 percent to record 1886.93 points.
The United States and its allies moved on Saturday to block certain Russian banks from accessing the SWIFT global interbank payments system, as part of new sanctions against Russia, which continues to invade Ukraine.
The Ukrainian president’s office said that negotiations with Moscow without preconditions will take place on the border between Belarus and Ukraine. Russia’s TASS news agency reported on Sunday, citing unnamed sources, that the talks would start on Monday morning.
The Nikkei has lost about 8 percent and the Topix has lost 5 percent since the start of the year.
Today, the Nikkei was boosted by a 0.1 percent rise in shares of Fast Retailing, owner of clothing store Uniqlo. SoftBank Group’s stock compensated for its losses, rising 1.1 percent.
The oil stocks index rose 2.6 percent.
