Japanese Shares Turn Higher

The Nikkei 225 Index rose 0.15% to close at 69,468, while the broader Topix Index gained 0.47% to 3,982 on Monday, reversing earlier losses as bargain hunters returned to pick up beaten-down stocks. Investors also kept a close watch on developments in the Middle East following renewed clashes between the US and Iran around the Strait of Hormuz, although both sides agreed to suspend further attacks ahead of peace talks scheduled for this week in Doha, Qatar. On the domestic front, data showed Japan’s retail sales increased 5.3% in May, the fastest pace since November 2023, supported largely by a government stimulus package that boosted consumer spending. Among individual stocks, strong gains were recorded by Taiyo Yuden (10.9%), Tokyo Electron (2.4%), Sony Group (3.1%), Nintendo (5.3%), and Disco Corp (1.3%).

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