Japanese stocks close higher thanks to encouraging results

Japan shares closed higher, thanks to encouraging results from shipping companies and others in cyclical sectors, reducing the impact of fears of a mutated delta strain of the fast-spreading Corona virus that threatens the recovery

The Nikkei index closed up 1.82 percent at 27,781.02 points, erasing losses on Friday, when it recorded its lowest closing level since early January.

The broader Topix index rose 2.05 percent to 1940.5, its highest closing level since July 14.

Shipping companies led the gains, with a 9.2 percent advance to hit a 13-year high, following strong results from Mitsui OSK. The sub-index gained 18.2 percent during the previous two sessions.

Mitsui OSK jumped 10.6 percent, Kawasaki Kisen rose 9.1 percent and Nippon Yusen rose 8.5 percent.

The stock of auto parts maker Denso jumped five percent, extending its gains for the second consecutive session, after announcing strong results.