Tokyo stocks ended higher Monday, snapping a three-day losing streak, as hopes for a U.S. stimulus package to cushion the coronavirus pandemic fallout prompted buying in high-priced issues including technology shares.

The 225-issue Nikkei Stock Average ended up 138.11 points, or 0.46 percent, from Friday at 30,156.03. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 9.40 points, or 0.49 percent, higher at 1,938.35.

Gainers were led by electrical appliance, air transportation, marine transportation and nonferrous metal issues.

The U.S. dollar was steady in the upper 105 yen range in Tokyo trading, gaining some support from higher U.S. Treasury yields, dealers said.

At 5 p.m., the dollar fetched 105.81-82 yen compared with 105.39-49 yen in New York and 105.59-61 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.2109-2111 and 128.13-17 yen against $1.2113-2123 and 127.71-81 yen in New York and $1.2109-2110 and 127.86-90 yen in Tokyo late Friday afternoon.

The yield on the benchmark 10-year Japanese government bond rose 0.015 percentage point from Friday's close to 0.115 percent, its highest closing since November 2018, as investors sold the safe-haven debt on rising U.S. Treasury yields and higher Tokyo stocks.

Shares' gain came after the benchmark Nikkei had lost about 450 points, or 1.5 percent, during the three trading days through Friday when the index briefly fell below the 30,000 mark that it earlier retook for the first time in three decades.

Buying took the upper hand from the opening but the pace slowed in the afternoon ahead of a national holiday Tuesday.

"Trading was dominated by hedge funds, who sought to hunt for bargains in the morning but they turned sellers later in tandem with a fall in U.S. stock futures" in after-hours trading, said Yutaka Miura, senior technical analyst at Mizuho Securities Co.

Investor buying interest remained focused on technology issues and sectors sensitive to the global economy such as shippers, as the U.S. House of Representatives plans to vote on President Joe Biden's $1.9 trillion stimulus package later this week. Market participants expect recovery in the world's largest economy to help lead the global economy.

"We could see the scale of the stimulus plan on Friday and hopes grew about a faster recovery in the U.S. economy and corporate earnings," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co.

On the First Section, advancing issues outnumbered decliners 1,542 to 577, while 75 ended unchanged.

Among technology issues, chip equipment makers were mostly higher. Tokyo Electron climbed 2,760 yen, or 6.3 percent, to 46,300 yen, and Screen Holdings advanced 320 yen, or 3.5 percent, to 9,370 yen.

As for shippers, Nippon Yusen rose 144 yen, or 4.9 percent, to 3,055 yen, and Mitsui O.S.K. Lines jumped 170 yen, or 5.3 percent, to 3,355 yen.

Trading volume on the main section rose to 1,250.43 million shares from Friday's 1,223.74 million shares.

==Kyodo

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