Japan’s Nikkei rises, trailing Wall Street

Japan’s Nikkei index jumped more than 1 percent on Monday, tracking a rally on Wall Street last week led by chip-related stocks.

The Nikkei ended trading up 1.33 percent, recording 26,906.04 points, after rising earlier to 26,938.28 for the first time in a month.

Of the 225 stocks listed on the index, 182 rose, 39 declined, and four settled.

The broader Topix index rose 0.96 percent to 1945.38, after hitting the highest level since December 16 at 1947.88.

The yen retreated from its highest level in seven and a half months, which it reached last week, which contributed to supporting the sentiment of investors, especially exporters.

Chipmaking equipment giant Tokyo Electron rose 2.52 percent. Online retailer Rakuten Group jumped 3.48 percent, making it the best performer over the Nikkei.

SoftBank Group, which invests in startups, rose 1.73 percent. Fast Retailing, operator of Uniqlo stores, rose 2.66 percent.

The shares of the two car manufacturers, Toyota, rose 0.32 percent, and Suzuki rose 1.76 percent.