TOKYO, Sept 28 (Reuters) – Japanese shares closed higher on Monday following bigger appetite for stocks that were set to go ex-dividend this week, although gains were capped due to U.S.-Sino tensions.
The benchmark Nikkei share average rose 1.32% to 23,511.62 and the broader Topix gained 1.69% to 1,661.93. All but two of the 33 sector sub-indexes on the Tokyo exchange traded higher.
Investors took cues from Wall Street’s positive finish on Friday when main indexes gained more than 1%, while in Japan, analysts cited demand for index futures by index and mutual funds lifting sentiment a day before the ex-dividend date.
But U.S.-China tensions capped gains after reports the U.S. had sent letters informing companies that suppliers of certain equipment to China’s Semiconductor Manufacturing International Corporation must apply for individual export licenses.
Amid the tech-related dispute between the two nations, chipmaker Kioxia Holdings Corp postponed plans for what would