At closing bell, the 225-issue Nikkei Stock Average index advanced 482.26 points, or 1.78%, to 27,587.46. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 30.38 points, or 1.6%, to 1,929.43.
Total 31 of 33 TOPIX sectorial indices advanced, with Electric Appliances (up 2.8%), Machinery (up 2.3%), Marine Transportation (up 2.2%), Rubber Products (up 2%), and Transportation Equipment (up 1.9%) issues being notable gainers.
The biggest gainers of the session on the Nikkei 225 were Alps Electric Co, which rose 15.5%. JTEKT Corp added 10.9% and Toyota Tsusho Corp was up 8.1%.Biggest losers included Pacific Metals Co, which lost 8.5%. NGK Insulators declined 6.7% and TOTO shed 5%.
ECONOMIC NEWS: Japan's factory output fell a seasonally adjusted 1.6% in September from a month earlier, as manufacturers took a hit from rising costs for raw materials and the global economic slowdown, the Ministry of Economy, Trade and Industry (METI) data showed on Monday. That marked the first month-on-month fall in four months in industrial production and followed a 2.7% rise in August. METI expected that output to fall another 0.4% in October and rise 0.8% in November.
Separate METI data showed retail sales rose 4.5% year-on-year at 12.591 trillion yen in September, extending a rebound since March when the government ended domestic COVID-19 containment measures. On a seasonally adjusted monthly basis, retail sales climbed 1.1%, slowing from 1.1% in the previous month. For the third quarter of 2022, retail sales gained 3.6% on year and 1.3% on quarter, coming in at 38.140 trillion yen.
CURRENCY NEWS: The yen depreciated to upper 147 level against greenback on Monday, after the Bank of Japan's (BOJ) decision to keep ultra-low interest rates on Friday, and BOJ Governor Haruhiko Kuroda's still-dovish comments in the face of rising interest rates elsewhere.
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