(Updates to closing prices)
By Satoshi Sugiyama
TOKYO, July 27 (Reuters) - Japan's Nikkei share average
ended Monday's session higher, helped by a fall in oil prices
after a halt in U.S. attacks on Iran, while investors stayed
cautious before major earnings due this week.
The benchmark Nikkei rose 0.5% to close at 64,931.19
after fluctuating between gains and losses. The broader Topix
rose 1.37% to 4,066.07.
The U.S. suspended its bombing campaign on Iran after nearly
two weeks of heavy airstrikes, while a senior Iranian official
told Reuters Tehran would also halt its own attacks as long as
Washington did the same. Oil prices fell more than 6% on Monday
on expectations of a diplomatic off-ramp.
"Reduced concern over higher crude prices should support
Japanese shares overall, while buybacks are also expected in
stocks that had seen an increasingly corrective tone through
last week," said Takayuki Miyajima, senior economist at Sony
Financial Group.
"However, with major U.S. cloud companies due to report
earnings this week, investors may be reluctant to aggressively
chase the upside as they assess capital spending plans and the
monetisation of AI investment," he said.
Investors are focused on a busy week of earnings
announcements in the U.S. and Japan, as well as central bank
decisions.
In Tokyo, chip-testing equipment maker Advantest ( ADTTF ) is
due to report earnings on Wednesday, while memory chipmaker
Kioxia ( KXHCF ) is scheduled to report on Friday.
Market breadth was positive, with 194 advancers on the
Nikkei 225 against 31 decliners.
Software testing and quality assurance services provider
Shift was the top percentage gainer on the index,
rising 9.32%, followed by consulting services provider
BayCurrent ( BYCRF ), up 8.95%, and Shiseido ( SSDOF ), a global
cosmetics and skincare company, which rose 7.62%.
Shares of Shin-Etsu Chemical ( SHECF ) slid 8.3%, making the
silicon and chemical products maker the Nikkei's biggest
percentage loser, after its full-year consolidated net profit
outlook undershot market expectations. It was the stock's
steepest percentage loss since January.
Optical fibre producer Fujikura ( FKURF ) lost 5.83% and
SoftBank Group, a tech investment conglomerate, shed
3.07%.