TOKYO: Tokyo stocks rebounded Monday with the benchmark Nikkei up 0.53 percent by the break, after Wall Street rallied on Friday while investors shrugged off a drop in Japanese factory output.
The Nikkei 225 index at the Tokyo Stock Exchange
, which fell for the second consecutive day on Friday, tacked on 101.58 points to 19,387.21, while the Topix index of all first-section shares inched up 0.08 percent, or 1.30 points, to 1,554.08.
Tokyo s rebound came as the dollar ticked up against the yen, a plus for Japanese exporters, but analysts said the Topix s weak start could foreshadow a temporary downturn in the market.
“We re already seeing selling before the end of the financial year,” Yutaka Miura, a technical analyst at Mizuho Securities, told Bloomberg News.
“We expect shares to reach a bottom over today and tomorrow and start rising again in the new fiscal year.”
The Japanese fiscal year begins on April 1 with firms set to report their full-year results from later next month.
