TOKYO, Nov 7 (Reuters) - Japanese shares ended higher on
Monday, tracking a strong performance on Wall Street, as
investors scooped up some stocks following the release of
positive annual outlook.
The Nikkei rose 1.21% to 27,527.64, in its biggest
intraday gain in a week, while the broader Topix climbed
0.98% to 1,934.09.
"Investors continued to look for shares with robust
earnings," Nomura Securities strategist Maki Sawada said at a
"Going forward, investors will be cautious ahead of closely
eyed U.S. consumer price data, which is due later this week."
Wall Street closed higher on Friday in volatile trading to
snap a four-session losing streak, as investors wrestled with a
mixed jobs report and comments from U.S. Federal Reserve
officials on the pace of interest rate hikes.
Investors await a major event on Thursday when U.S. consumer
prices for October are likely to be released, with any upside
surprise set to test hopes for a step down in Fed hikes.
JFE Holdings jumped 7.25% after Japan's No.2
steelmaker raised its annual profit outlook.
Peers Nippon Steel and Kobe Steel rose
3.05% and 3.88%, respectively, lifting the steelmaker index
by 3.31% to make it the top gainer among the 33
industry sub-indexes on the Tokyo Stock Exchange.
Sanrio surged 12.91% after the owner of the Hello
Kitty brand raised its annual outlook.
Heavyweights rose, with chipmaking equipment maker Tokyo
Electron rising 3.79%, providing the biggest boost to
the Nikkei. Uniqlo clothing store owner Fast Retailing
rose 1.5%, while air conditioner maker Daikin Industries
On the other hand, office equipment maker Ricoh
tanked 7.84%% after cutting its annual profit outlook and Sharp
fell 3.27% after the smartphone maker made a similar
(Reporting by Junko Fujita; Editing by Rashmi Aich)