Tokyo : Tokyo stocks opened higher on Monday, as investors digested the Bank of Japan’s key business confidence survey released before the opening bell.
The benchmark Nikkei 225 index was up 0.69 percent, or 220.51 points, at 32,078.13 in early trade, while the broader Topix index was up 0.41 percent, or 9.60 points, at 2,332.99.
The Japanese market gains come “as a partial US government shutdown was averted thanks to the Congress passing a bridge funding bill,” Monex senior market analyst Toshiyuki Kanayama said.
Investors’ “attention is on the Bank of Japan’s Tankan” business confidence survey, that was released 10 minutes before the opening bell, he added.
Confidence among Japan’s largest manufacturers rose as business conditions improved for the second-straight quarter, the central bank’s survey showed.
Among major manufacturers, business confidence rose to plus nine from plus five three months earlier, beating market expectations of plus six.
The survey reports the difference between the percentage of firms that are upbeat and those that see conditions as unfavourable.
Optimism also grew among non-manufacturers, from plus 23 to plus 27, against market expectations of plus 24.
The dollar fetched 149.48 yen in early Asian trade, against 149.40 yen in New York late Friday.
Among major shares in Tokyo, Sony Group was up 1.67 percent at 12,445 yen, Toyota was up 1.90 percent at 2,728.5 yen, and SoftBank Group was up 0.96 percent at 6,396 yen.
Chip-testing equipment maker Advantest rallied 2.63 percent to 4,291 yen. Hitachi was up 1.58 percent at 9,422 yen.
Uniqlo operator Fast Retailing was up 2.61 percent at 33,440 yen.