TOKYO, Jan 19 (Reuters) – Japanese shares closed higher on Tuesday after falling for two consecutive sessions, while investors picked up stock that was knocked down, by manufacturers and playoffs. associated with a semicircle leading the reversal.
The Nikkei 225 Index finished 1.39% higher at 28,633.46, while the overall Topix went up 0.56% to 1,855.84.
“Investors are buying sold-out shares out of concerns for overheating yesterday,” said Hideyuki Suzuki, general manager at investment research for SBI Secz Suzuki Securities.
“Today’s (Tuesday) increase represents the fundamental strength of the Japanese market. It is moving on its own without affecting the US market, which closed yesterday. ”
Sentiment was also stimulated after Chinese data released Monday raised hopes that strength in the world’s second-largest economy would be the basis for growth in the region.
China’s economic recovery exceeded analysts ’expectations in the fourth quarter, expanding 6.5% from a year earlier, data from the National Bureau of Statistics showed.
In Japan, chip-related shares plummeted, with Rohm Co jumping 4.51% after Nomura Securities raised its target price.
TDK rose 2.76%, Tokyo Electron gained 2.11%, and Advantest climbed 4.22%.
Automakers also advanced, with Mazda Motor jumping 5.5%, Nissan Motor rising 3.91% and Suzuki Motor gaining 3.89%. Toyota went up 0.94% and Honda Motor added 1.69%.
Fast Retailing rose 3.06% after a report said that Uniqlo clothing chain operator would add payment functionality to its smartphone app.
The stocks that gained the most among the top 30 Topix SoftBank Group Corp., rose 3%, followed by Hitachi Limited, up 2.6%.
The runners-up among the Topix were 30 Hoya Corp., which fell 1.94%, followed by Seven & i Holdings Co Ltd losing 1.60%. (Edited by Uttaresh.V)