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Tokyo stocks gain at noon, Nikkei 225 advances 0.53pc

Tokyo stocks gain at noon, Nikkei 225 advances 0.53pc

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.