Tokyo: Tokyo stocks rebounded on Monday as gains in automakers, machinery, and financials drove the market higher amid bargain-hunting following a slump in the previous session. The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 37,785.47, up 629.97 points, or 1.7 percent from the previous day.
According to Namibia Press Agency, stocks that had sharply declined last week, such as Toyota and Honda, saw strong buying. Major financial institutions, including Mitsubishi UFJ and Tokio Marine, also experienced gains. Additionally, defense-related stocks like Mitsubishi Heavy rose following the U.S.-Ukraine summit.
The semiconductor sector, with companies like Advantest, lacked significant buying momentum, while game-related stocks such as DeNA faced profit-taking. Despite these sector-specific challenges, the overall market demonstrated resilience.
The Tokyo Stock Price Index (TOPIX) mirrored the Nikkei’s performance, closing 47.47 points, or 1.77 percent higher, at 2,729.56. On the Tokyo Stock Exchange Prime Market, advancers outnumbered decliners 1,407 to 202, with 29 stocks remaining unchanged, indicating a broad-based recovery across the board.