The Nikkei 225 average extended its rising streak to a sixth straight session Monday amid renewed optimism over U.S.-China trade negotiations.
The Nikkei gained 67.46 points, or 0.30 percent, to end at 22,867.27, its best finish since Oct. 10, 2018. The average rose 49.21 points Friday.
The Topix, which covers all issues on the first section of the Tokyo Stock Exchange, inched 0.01 point, or 0.00 percent, lower to close at 1,648.43 after gaining 4.70 points Friday.
The market opened higher following a Wall Street rebound Friday thanks to announcements by the U.S. and Chinese governments that they were close to finalizing some portions of a “phase one” trade agreement through high-level telephone talks.
Semiconductor-linked issues, in particular, attracted purchases in the wake of rises in U.S. chip shares, keeping the Nikkei buoyant throughout the session, brokers said. The Topix fell to levels around its Friday closing in late afternoon trading.
“The yen’s weakening against the dollar and upbeat Shanghai and Hong Kong stocks also induced buying in the Tokyo market,” said Yutaka Miura, senior technical analyst at Mizuho Securities Co.
But active trading was held in check just ahead of the full-fledged start of corporate earnings season in Japan and policy-setting meetings by the U.S. Federal Reserve and the Bank of Japan, other market sources said.
On the first section, rising issues outnumbered falling ones 1,096 to 958 while 101 issues were unchanged. Volume fell to 1.014 billion shares from 1.100 billion Friday.
Vigorous semiconductor-related issues included chipmaking gear manufacturer Tokyo Electron and test device maker Advantest.
Construction machinery maker Komatsu, industrial robot producer Fanuc and other names with strong ties with China went up.
Tire makers were hunted, with Bridgestone rising 1.48 percent.
Nikkei component Fast Retailing rose on selective buying while other retail issues were generally downbeat.
Nonlife insurers met with selling amid concerns that they will have to pay huge amounts of money to policyholders damaged by flooding, landslides and other disasters bought on by two powerful typhoons. They included Tokio Marine and Sompo Holdings.
Also on the negative side were technology investor SoftBank Group and optical equipment maker Olympus.