Japan’s Nikkei gains as crude oil declines, coronavirus cases drop
Japan’s Nikkei stock index advanced on Monday, supported by a retreat in crude oil as investors turned more optimistic over the Russia-Ukraine crisis.
Travel-related stocks jumped on a decline in COVID-19 infections and hopes of resumption of a government programme to boost tourism.
Financial shares rallied as higher long-term global bond yields improved the outlook for profits. Automakers stood out too, as a weaker yen boosted the value of overseas sales.
The Nikkei share average ended the morning session 0.69% higher at 25,337.39, although that was off the early highs when the benchmark gained as much as 1.86%. Of the Nikkei’s 225 component stocks, 193 advanced.
