Japan’s Nikkei closes higher as oil falls

TOKYO (Archyde.com) – Japan’s Nikkei index edged up at the close on Monday, helped by lower crude oil prices, as investors felt more optimistic regarding Russia-Ukraine peace talks. Shares of travel-related companies jumped as Covid-19 cases declined and hopes for the resumption of a government program to support tourism revived. Financial sector stocks rose as earnings expectations improved, due to higher global long-term bond yields. Auto stocks rose following a weak yen boosted sales abroad. The Nikkei rose at the close 0.58 percent to 25,307.85 points. The prices of 177 shares rose from 225 shares listed on the index. The broader Topix index rose 0.71 percent to 1812.28 points. US Deputy Secretary of State Wendy Sherman said on Sunday that Russia was showing signs that it might be willing to conduct substantive negotiations on Ukraine, which has pushed commodity prices back from their highest levels. Travel company HAE jumped 7.53 percent and airline ANA Holdings jumped 2.94 percent. Tokyo Electron was pleased with 1.31 percent and Advantest by 2.21 percent. Toyota shares rose 2.88 percent and Nissan 2.04 percent.