Japanese markets rise, Nikkei jumps 1.20%

Japanese markets rallied to end near a three-week high after Berkshire Hathaway Inc. increased its stake in five trading houses.

Investors also looked ahead to the Bank of Japan's interest-rate decision on Wednesday, with the central bank expected to keep the policy rate at 0.5 percent amid concerns over global economic prospects due to escalating trade tensions.

The Nikkei average jumped 1.20 percent to 37,845.42 while the broader Topix index settled 1.29 percent higher at 2,783.56. Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo surged 2-4 percent.

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