Nikkei close higher on rally in non-dividend stocks

Nikkei close higher on rally in non-dividend stocks

Nikkei close higher on rally in non-dividend stocks

TOKYO (Reuters) – Japanese stocks closed higher on Monday after rising appetite for non-dividend stocks, although gains were limited by tensions between the US and China.

The Nikkei rose 1.32% to 23.511.62, while the broader Topix added 1.69% to 1.661.93. The Nikkei is up 1.61% since the beginning of the month.

“It has become clear that the US restrictions on China have affected different companies in the semiconductor industry … but the impact will vary from company to company,” said Takashi Hiroki, chief strategist at Monex Securities.

The rise was led by J.Front Retailing, Isetan Mitsukoshi Holdings and Oki Electric Industry, which rose 6.61%, 6.43% and 5.75%, respectively.

(Amy Yamamitsu. Translated by Olga Beskrovnova. Editor Anna Kozlova)

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