TOKYO, Nov 15 (Reuters) - Japanese shares ended higher on
Monday, with technology stocks leading gains, as they took cues
from Wall Street's strong finish last week, which offset
concerns about subdued domestic growth data.
The Nikkei share average advanced 0.56% to close at
29,776,80, while the broader Topix rose 0.39% to
Wall Street stocks closed higher on Friday, with
market-leading growth shares, including Apple Inc and
Microsoft Corp kick-starting indexes' climb as
investors looked past disappointing U.S. economic data.
"Recently, the Japanese market sometimes shows little
correlation with the U.S. market but today we can say the market
rose because of Wall Street's gains," said Jun Morita, general
manager of the research department at Chibagin Asset Management.
"But we can't find any market-moving catalysts that could
lift the Nikkei above the 30,000 level."
The market did not react to the news that Japan's economy
shrank faster than expected in the third quarter, as global
supply disruptions and fresh COVID-19 cases hit business and
Heavyweight Tokyo Electron gained 0.93% after the company
raised its profit forecast as well as outlook for dividend
Technology investor SoftBank Group rose 2.23% and
medical services platform M3 jumped 3.29%.
Restaurant chain Skylark Holdings surged 6.48%
after it raised its annual net profit forecast to 10 billion yen
($88 million) from 400 million yen.
Peer sushi restaurant chain Food & Life Companies
and Kura Sushi rose 1.52% and 1.67%, respectively.
Sumitomo Mitsui Financial Group rose 2.04% after
reporting a surge in its first-profit, while a rival Mizuho
Financial Group fell 1.38% despite a robust earnings.
Nippon Express fell 5.8%, making it the biggest
decliner on the Nikkei, followed by Ebara Corp, which
lost 5.01% and Dai Nippon Printing, falling 3.89%.
($1 = 113.8200 yen)
(Editing by Rashmi Aich)