Peer Japan Airlines rose 2.07%. Rail operators also did well amid an improving outlook for tourism income, after figures last week showed an increase in foreign visitors. West Japan Railway Co led gains for the sector, rising 2.48%. Department store operators advanced, including a 2% appreciation for Marui Group Co. . Uniqlo store owner Fast Retailing added 0.41%. Motor-maker Nidec rallied 1.16% before headlining the handful of companies reporting earnings on Monday. On Thursday, more than 100 companies report, and that tally doubles on Friday. The BOJ also sets policy on Friday, and while the consensus of for no change, analysts and investors are wary of surprises like the unexpected widening of the 10-year bond yield policy band in December. "From today, it's very likely that Japanese stock investors will shift to a wait-and-see stance, so moves are likely to be relatively muted," said Maki Sawada, a strategist at Nomura Securities. The biggest losers on Monday were shipping stocks , sliding 2.98%. Among them, Kawasaki Kisen Kaisha was the worst performer, dropping 4.22%. Chip-related stocks also tracked losses for U.S. peers from Friday, with chip-making equipment giant Tokyo Electron declining 1.99%. (Reporting by Kevin Buckland; editing by Uttaresh Venkateshwaran)
By Kevin Buckland
TOKYO, April 24 (Reuters) - Japan's Nikkei share average
rose on Monday, lifted by airlines after ANA Holdings raised
profit forecasts, while other tourism-related stocks also firmed
amid optimism over increasing visitor numbers.
At the same time, uncertainty heading into an acceleration
of Japanese earnings results at the end of this week, when new
Bank of Japan governor Kazuo Ueda also chairs his first policy
meeting, prevented investors from buying too aggressively.
The Nikkei entered the midday recess up 0.29% at
28,646.39, edging back towards Friday's eight-month high of
28,778.37. Of the benchmark's 225 components, 161 rose versus 57
that fell, with seven flat.
The broader Topix rose 0.37% to 2,042.57.
Air transport was the top performer among the
Tokyo Stock Exchange's 33 industry sectors, rising 2.45%.
ANA Holdings gained 3.72% after increasing its
profit guidance after markets closed on Friday. Its earnings
presentation scheduled for Thursday.
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