Japan's Nikkei climbs 1% on dip in crude oil, smooth JGB auction
EWJ•Japan's Nikkei rose 1.1% to 70,683.98 and the Topix gained 0.9% to 4,183.56, helped by lower crude prices and strong demand at a 10-year Japanese government bond auction.
1. Stocks rise
The Nikkei advanced on Tuesday, supported by overnight gains on Wall Street and a decline in crude oil prices. The Topix also rose, while 165 Nikkei components gained, 55 fell and five ended unchanged.
2. Bond demand eases concerns
The 10-year JGB auction drew its strongest demand since May, and yields retreated from earlier highs. Strategist Masahiro Ichikawa said the results confirmed investor demand and offered reassurance that yields would not continuously rise. Advantest gained 3.9% and Fujikura rose 5.2%, while SoftBank Group fell 3.1%.
