TOKYO, May 10 (Reuters) - Japanese shares advanced on Monday, as a strong finish last week on Wall Street boosted investor sentiment ahead of earnings reports from domestic automakers and other major firms this week.
The yield on benchmark 10-year Treasury notes US10YT=RR plunged to a two-month low of 1.4690% on Friday. US/
"The U.S. market gained on speculation that low interest rates will continue for a prolonged period of time, and that also lifted today's Japanese market," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.
"On the other hand, investors are waiting to confirm the outlook of major firms, particularly they want to see the impact of chip shortage on automakers."
Toyota gained 1.87%, while Nissan jumped 3.85%. SoftBank Group rose 1.95%.
Nippon Steel 5401.T advanced 4.13% after issuing annual profit forecast above analysts estimate last week, helping the sector index .ISTEL. gain 3.76%.
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