Japan Stocks Trade Markedly Higher to Start the Week
The Nikkei 225 climbed 281 points or 0.7% to 38,976 in early deals on Monday, bouncing back from the previous session's losses amid a sharp rise in US futures as milder US inflation data rekindled hopes for potential policy easing next year.
The broader Topix Index rose 15 points or 0.6%, reversing losses in the prior session, helped by relief that Washington had successfully avoided a government shutdown. At home, the Bank of Japan last week kept its key short-term interest rate at around 0.25%, in line with estimates, as the central bank needed more time to assess certain risks, including US policies under Donald Trump and next year's wage outlook.
Most sectors gained, with consumer durables, commercial services, utilities, and financials among top movers. On the business front, Honda, Nissan, and Mitsubishi have informed Japan’s industry ministry that they have entered into merger talks, Kyodo News said. Shares of Honda climbed 2.1% while Nissan shares were marginally lower.
Source: Trading Economics
