The Japanese Nikkei index rises and ends a 3-day losing streak

Japan’s Nikkei closed higher on Monday as investors tread carefully after last week’s huge losses and weather disappointment over China’s small interest rate cut.

The Nikkei ended trading up 0.37 percent at 31,565.64 points on Monday, ending a three-day losing streak.

The index fell 3.15 percent last week, its worst weekly performance this year. However, the index has risen nearly 21 percent this year, becoming the best performer in Asia.

The index fell briefly on Monday after China’s central bank cut its one-year lending rate by 10 basis points and left the five-year interest rate unchanged, surprising analysts who had expected a 15-basis-point cut for both.

The broader Topix index rose 0.17 percent, at 2,241.10 points.

Gainers were led by Tokyo Electric Power Co, which rose 4 percent, making the utilities sector the second best performer on the Nikkei.