TOKYO-- As most of Asia was celebrating the Lunar New Year holiday, Japanese investors also had something to cheer about Monday as the first batch of money from newly established mutual funds finally flowed into the market.
And there will be more cheers as two large funds kick off this week, including
Daiwa Asset Management's
300 billion yen fund that will buy domestic, under-priced shares.
index rose 182.30, or 0.92%, to 19,945.43, while the
index, comprising shares listed on the
Tokyo Stock Exchange's
first section, climbed 13.56 to 1754.78. The
small-cap index jumped 4.10, or 3.9%, to 109.57, while the Nikkei
shares rose 63.10, or 2.7%, to 2391.87.
Traders said dealers from
, most likely on behalf of
Nomura Asset Management
and its 1 trillion yen
fund, were busy racking up orders today.
looked like one of the fund manager's picks of the day, as shares climbed 190, or 4.0%, to 4990.
Computer and tech shares also fared well, with
up 800, or 2.7%, to 29,980 and
Matsushita Electric Industrial
closing up 40, or 1.3%, to 3120.
climbed 80,000, or 2.1%, to 3.84 million on a weekend U.K. press report that the mobile phone operator was mulling a $35 billion bid for
once the firm is spun off from
also said NTT DoCoMo could pursue a joint venture or take a majority stake in Orange, in a bid to expand into Europe and eventually to the U.S. NTT DoCoMo declined to comment on the report.
After signing a joint venture deal with
, shares of
soared 80, or 6.8%, to 1260.
The greenback saw some buying from U.S. investors near the 107.00-yen level, which pushed the pair up to 107.80. The buying, thought to be for the purchase of U.S. Treasuries, confirmed that a bullish dollar scenario will likely dominate currency trading this week, dealers said.
index closed up 22.91, or 2.4%, to 973.13, thanks to a decline in local interest rates.
Korea Tech Bank
jumped 1200, or 8.3%, to 15,750, while
climbed 600, or 4.4%, to 14,100.
Markets in Hong Kong, Taiwan, Singapore and Malaysia were closed for the Lunar New Year, and will reopen Tuesday.