TOKYO, Oct 4 (Reuters) - Japan's Nikkei jumped 3% on
Tuesday to record its best session in more than six months, as
investors scooped up beaten-down heavyweights and growth stocks
after Wall Street closed sharply higher overnight.
The Nikkei share average advanced 2.96% to 26,992.21
in broad-based buying, marking its biggest daily gain since
March 23, and posting its highest close since Sept. 22.
The broader Topix jumped 3.21% to 1,906.89 in its
sharpest daily gain since March 10.
Wall Street's three major indexes rallied more than 2% on
Monday, as Treasury yields tumbled on weaker-than-expected
manufacturing data, increasing the appeal of stocks.
"Investors scooped up shares that were beaten down,
especially heavyweights and growth stocks," said Maki Sawada, a
strategist at Nomura Securities. "The market was also
underpinned by the strong finish of Wall Street."
Market participants shrugged off news that nuclear-armed
North Korea fired a ballistic missile over Japan for the first
time in five years earlier in the day.
Uniqlo clothing shop owner Fast Retailing rose
2.02% and was the biggest boost for the Nikkei, followed by
technology investor SoftBank Group, jumping 5.1%, and
chip-making equipment maker Tokyo Electron, which rose
The wholesales sector, which includes trading
houses, was the top performer among the Tokyo Stock Exchange's
33 industry sub-indexes, jumping 5.53% as Itochu raised
its profit forecast and announced a share buyback.
Itochu surged 8.34%, while Mitsubishi Corp gained
4.83% and Mitsui & Co climbed 5.39%.
Energy shares also advanced, as oil prices rose after the
Organization of the Petroleum Exporting Countries and its
allies, a group known as OPEC+, said it would consider reducing
Explorers jumped 4.96% and refiners rose
4.13%. Inpex and Japan Petroleum Exploration Co
climbed 5.36% and 3.37%, respectively.
Shipping firm Kawasaki Kisen was the only decliner
on the Nikkei, falling 1%.
(Reporting by Junko Fujita; Editing by Subhranshu Sahu)