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Tokyo's Nikkei snaps six-day losing streak on bargain-hunting

Tokyo's benchmark Nikkei index rose on Monday, snapping a six-day losing streak, although investors remained vigilant about a possible escalation in the US-China trade war.

The benchmark Nikkei 225 index gained 0.30% to close at 22 373.09, while the broader Topix index was up 0.20% at 1 687.61.

Tokyo shares initially opened fractionally lower, extending falls on Wall Street last week.

But they ended in positive territory "as bargain-hunting emerged following the recent loss," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"But buying sentiment is not strong as concerns over the US-China trade war are weighing on the market," Horiuchi told AFP.

"Nervous trading is expected to continue for now," he added.

The dollar fetched ¥110.95 in Asian afternoon trade, down from ¥111.02 in New York late on Friday, when world equities stumbled on worries over the US-China trade war after a threat of fresh tariffs by President Donald Trump.

Sony rose 0.24% to ¥6 245 and Nintendo gained 0.28% to ¥38 640.

Fast Retailing, the Uniqlo casual wear operator and market heavyweight, was up 0.16% at ¥53 990.

But electronic parts maker Rohm was down 1.15% at ¥9 390 and chip testing devices maker Advantest slumped 2.41% to ¥2 387.

Toyota edged down 0.03% to ¥6 594, losing its early gains after it said it was preparing to resume production at its quake-hit plant in Hokkaido.

In New York on Friday, the Dow ended down 0.3% with the Nasdaq also down 0.3%.

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