TOKYO, Nov 22 (Reuters) - Japan's Nikkei share average gave
up losses to close higher on Monday as investors bought cheaper
stocks, while concerns on return of COVID-19 restrictions in
Europe capped gains.
The Nikkei share average ended up 0.09% at
29,774.11, after losing as much as 0.68% earlier in the session.
The broader Topix slipped 0.34% to 2,042.82.
"The reverse of the Nikkei was a bit of a surprise," said
Kentaro Hayashi, senior strategist at Daiwa Securities.
"Investors bought the shares on dips as they had a second
look at Japanese stocks, which are relatively cheap compared
with the U.S. shares."
The Japanese market opened lower, tracking the previous
session's fall in the Dow due to pandemic jitters.
Broader investor sentiment was also hit as Austria announced
new restrictions to deal with rising infections, while there
were fears Germany could follow suit.
The Nikkei changed its course after U.S. futures advanced in
Asian trading hours. Heavyweight Uniqlo clothing store operator
Fast Retailing rose 0.47% each.
Chip-related heavyweights Advantest and Tokyo
Electron tracked the surge in the Nasdaq Composite
Index in the previous session, rising 0.96% and 0.35%,
Oil explorers weighed on the market as COVID-19
worries sent oil prices lower, with Inpex losing 4.47%
and Japan Petroleum Exploration slipping 0.35%.
Shares that would benefit from an economic reopening fell,
with airlines shedding 1.66% and railways
(Editing by Uttaresh.V)