Tokyo stocks closed higher for the third straight trading day Monday, with the Nikkei Stock Average rising 175.18 points, or 1.3%, to end the day at 13,582.50, its highest point in about a month, according to (Nikkei.com).
The dollar’s appreciation against the yen and an upbeat tankan business sentiment survey prompted buying in the early going. The Nikkei average briefly fell in reaction to China’s lower purchasing manager’s index. But investors began buying back Nikkei Stock Average futures in the view that the market will remain resilient. The Shanghai Composite Index resisted further declines, adding momentum to Tokyo stocks.
The trading value on the first section of the Tokyo Stock Exchange totaled 2.039 trillion yen on a preliminary basis.