Nikkei rebounds on Wall Street gains, yen's retreat

  • Reuters
  • Stock Market News
Nikkei rebounds on Wall Street gains, yen's retreat
Credit: © Reuters.

TOKYO, Aug 3 (Reuters) - Japanese shares snapped six consecutive sessions of losses on Monday, as markets tracked Wall Street's Friday rally on strong earnings reports, and the yen retreated from a 4-1/2-month high against the dollar.

The benchmark Nikkei share average .N225 closed 2.24% higher at 22,195.38, after shedding 4.6% last week. The index had 193 advancers against 32 decliners

The broader Topix .TOPX gained 1.78% to 1,522.64, recovering from a two-month-low and its biggest daily loss in four months recorded on Friday.

All but one of the 33 sector sub-indexes on the Tokyo exchange finished higher.

Wall Street's all three major indexes advanced on Friday, powered by strong earnings results from U.S. tech giants, including Apple Inc (NASDAQ: AAPL ), Amazon.com (NASDAQ: AMZN ) and Facebook Inc (NASDAQ: FB ). .N

In the currency market, exporters got a boost as the yen fell to a low of 106.40 yen against the dollar, moving away from a 4-1/2-month high of 104.195 yen touched on Friday.

Among individual stocks, Yamato Holdings Co Ltd 9064.T rose 5.05% as the company forecast a 43.2% jump in operating profit for the fiscal year.

Murata Manufacturing Co Ltd 6981.T pared gains in the afternoon and ended 0.02% higher after the company left its full-year operating profit forecast unchanged.

Keyence Corporation 6861.T fell 3.89% after the factory automation equipment maker logged a 21.9% decline in its March-June operating profit.

Mazda Motor 7261.T slipped 2.54% as the automaker forecast a record annual operating loss. Nichiigakkan Co Ltd 9792.T gained 8.38% after U.S. investment firm Bain Capital made a sweetened offer price at $1.2 billion. & i Holdings Co Ltd 3382.T fell 4.8% after the retail group said it would buy U.S. gas stations Speedway from Marathon Petroleum (NYSE: MPC ), as some investors viewed the deal price to be too high given the coronavirus-led economic slowdown.

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