The Nikkei 225 Index opened higher on Monday, as investors shrugged off concerns about the U.S. debt ceiling and focused on positive economic data from China. The index rose 0.4% to close at 30,909.61.
The gains were led by technology stocks, with shares of SoftBank Group Corp. and Toyota Motor Corp. rising 1.5% and 1.2%, respectively. Shares of Honda Motor Co. also rose 1%.
The gains in the Nikkei were supported by positive economic data from China. The Chinese government said that its manufacturing activity expanded in May, with the Purchasing Managers' Index rising to 50.7 from 50.4 in April.
The gains in the Nikkei were also supported by a weaker yen. The dollar rose to 130.00 yen from 129.50 yen on Friday. A weaker yen makes Japanese stocks more attractive to foreign investors.
The Nikkei is still up 16.2% so far this year. The index is on track for its best year since 2017.
Key Takeaways
- The Nikkei 225 Index closed higher on Monday, as investors shrugged off concerns about the U.S. debt ceiling and focused on positive economic data from China.
- The gains were led by technology stocks, with shares of SoftBank Group Corp. and Toyota Motor Corp. rising 1.5% and 1.2%, respectively.
- Shares of Honda Motor Co. also rose 1%.
- The gains in the Nikkei were supported by positive economic data from China.
- The gains in the Nikkei were also supported by a weaker yen.
People also ask
⚐ What are the top stocks to invest in right now?☵ What happens to stocks when they're delisted?