TOKYO, June 6 — Tokyo shares shrugged off early losses to close higher on Monday as tech and export shares made gains thanks to the weaker yen.
The benchmark Nikkei 225 index rose 0.56 per cent, or 154.32 points, to 27,915.89, while the broader Topix index added 0.31 per cent, or 5.97 points, to 1,939.11.
The Tokyo market came under pressure in the morning as global investors interpreted solid US economic data as a further sign the Federal Reserve will keep raising interest rates in its fight against inflation, driving down Wall Street shares.
But the dollar rising to nearly ¥131 (RM4.40) “became a tailwind for tech and export shares”, said Okasan Online Securities.
The greenback fetched ¥130.70, against ¥130.81 in New York and ¥129.90 in Tokyo on Friday.
Gains of US futures also helped boost the Tokyo market, analysts said.
Industrial robot-maker Fanuc jumped 1.26 per cent to ¥21,645 while chip-making equipment manufacturer Tokyo Electron climbed 1.18 per cent to ¥60,670.
Uniqlo operator Fast Retailing soared 2.76 per cent to ¥68,700. — AFP
