Nikkei Continues to Rise, Tracking Gains on Wall Street

Japan’s Nikkei jumped for a second straight session, tracking gains on Wall Street and as investors snapped bargains after sharp declines this month, while Toyota Auto helped the Topix close higher for the first time in 10 sessions.

The Nikkei rose 1.34 percent to close at 28,048.94 points, paring gains after a 2.3 percent jump in early trading, as investors waited for industrial giant Yaskawa Electric to start its earnings season later in the day. The broader Topix index rose 1.15 percent to 1961.85.

During the week, the Nikkei fell 2.51 percent on concerns about the economic slowdown in China and US inflation. For the month, the index lost 4.77 percent.

Wall Street closed sharply higher overnight in a broad-based rebound led by big tech companies, as the easing of the congressional debt ceiling standoff eased fears that the government could default this month.