Tokyo stocks continued to climb for the third straight trading day Monday, as strong overseas economic indicators and the start of mass vaccinations against COVID-19 in Japan boosted market sentiment.

The 225-issue Nikkei average of shares listed on the first section of the Tokyo Stock Exchange rose 46.78 points, or 0.17%, to close at 28,364.61, after climbing 219.58 points Friday.

The Topix index of all TSE first-section issues finished up 8.35 points, or 0.44%, at 1,913.04, following an 8.77-point advance the previous trading day.

Stocks attracted buying from the outset of Monday’s trading, as the market mood brightened thanks to strong U.S. and European purchasing managers’ indexes in May released by British financial data provider IHS Markit late last week.

The start of mass COVID-19 vaccinations at Japanese Self-Defense Forces-run venues in Tokyo and Osaka Prefecture on Monday also heartened investors.

After the market cut gains from the initial surge due to selling on rally, trading was mixed amid a dearth of new market-moving factors.

“As with the previous week, the Nikkei’s top-side is being capped at around 28,500,” said Masayuki Otani, chief market analyst at Securities Japan Inc. “Although solid performances of overseas stocks and vaccine-backed hopes for economic recovery are fueling buying, it’s not enough to push the key index over the level.”

An official at a major securities firm suggested that individual investors dominated Monday’s trading.

Gainers outnumbered losers 1,394 to 715 while 83 issues were unchanged in the TSE first section. Volume shrank to 993 million shares from Friday’s 1.037 billion shares.

IHS Markit’s PMIs especially drove buying for economically sensitive names such as shipping firms Kawasaki Kisen and Nippon Yusen, which closed up 7.64% and 5.63%, respectively.

Hitachi rewrote its year-to-date high, hitting ¥5,679, following a news report on the company’s plans to build charging infrastructure for electric buses in Pakistan.

Other major winners included printer maker Seiko Epson and seasoning producer Ajinomoto.

On the other hand, growth stocks such as chipmaking-gear manufacturer Tokyo Electron and technology investor SoftBank Group succumbed to selling.

Drugmakers such as Daiichi Sankyo and Astellas also struggled.

In index futures trading on the Osaka Exchange, the key June contract on the Nikkei average slipped 10 points to end at 28,340.

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