TOKYO, Aug 4 (Reuters) - Japanese shares rose on Tuesday as investor sentiment was lifted by a tech-led overnight rally on Wall Street, and a softer yen propped up exporters.
Overnight, Wall Street rallied as strong U.S. manufacturing data and gains in tech-related stocks lifted sentiment, with the Nasdaq settling at a record closing high.
An industry gauge released on Monday indicated U.S. manufacturing activity expanded in July at the fastest pace in more than a year. of export-oriented automobile makers got a boost from a weaker yen as it edged further away from a 4-1/2-month high hit last week against the dollar.
Investors also digested a slew of earnings reports, with Suzuki Motor 7269.T rising 6.45% on better-than-expected earnings.
While the automaker posted a 1.3 billion yen operating profit, its worst quarterly performance on record, it was still higher than a consensus forecast for a loss of 38 billion yen drawn from six analysts polled by Refinitiv. company Kikkoman Corp 2801.T jumped 14.11% to its daily limit on stay-at-home demand hopes, despite a 12.8% decline in April-June net profit.
Among the biggest percentage losers in the index, Nikkei heavyweight SoftBank Group 9984.T dipped 1.96% after Reuters reported, citing a person with knowledge of the matter, that the tech conglomerate under-reported income by around 40 billion yen. Sony Corp 6758.T added 4.22% ahead of earnings later in the day.
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