TOKYO, Aug 3 (Reuters) – Japanese shares snapped six consecutive sessions of losses on Monday, as markets tracked Wall Street’s Friday rally on a flurry of strong earnings reports, and the yen retreated from a 4-1/2-month high against the dollar.
The benchmark Nikkei share average advanced 1.91% to 22,123.93 by the midday break, after shedding 4.6% last week.
The broader Topix gained 1.31% to 1,515.60, recovering from a two-month-low and its biggest daily loss in four months recorded on Friday.
Wall Street’s all three major indexes advanced on Friday, powered by strong earnings results from U.S. tech giants, including Apple Inc, Amazon.com and Facebook Inc.
In the currency market, the yen fell to a low of 106.40 yen against the dollar, moving away from a 4-1/2-month high of 104.195 yen touched on Friday.
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Among individual stocks, Yamato Holdings Co Ltd rose 5.16% as the company forecast a 43.2% jump in operating profit for the fiscal year.
Murata Manufacturing Co Ltd gained 1.15% after the company left its full-year operating profit forecast unchanged.
Keyence Corporation fell 3.93% after the factory automation equipment maker logged a 21.9% decline in its March-June operating profit.
Mazda Motor slipped 3.21% as the automaker posted an operating loss of 45.3 billion yen for the first quarter, its weakest in 11 years, and forecast a record annual operating loss.
Elsewhere, Nichiigakkan Co Ltd surged 8.38% after U.S. investment firm Bain Capital made a sweetened offer price at $1.2 billion.
Seven & i Holdings Co Ltd dipped 8.05% after the retail group said it would buy U.S. gas stations Speedway from Marathon Petroleum, as some investors viewed the deal price to be too high amid a coronavirus-led economic slowdown. (Reporting by Eimi Yamamitsu; Editing by Subhranshu Sahu)