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Japanese Stocks Rise On Soft US Jobs Data; Oil Gains

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Japanese stocks gained to end in the green on Monday after soft US jobs data eased concerns over high borrowing costs and reduced fears of a near-term Federal Reserve interest rate hike.

The benchmark Nikkei 225 closed up 1,363.51 points, or 2.08%, at 66,970.22.

Oil prices rose amid deadlock over a possible US-Iran deal and a clear roadmap for opening the Strait of Hormuz. Iran, meanwhile, reiterated that it is close to a deal with Oman on new shipping lanes through Hormuz, but restoring energy supply through the waterway remains conditional.

On the corporate side, Sony Group (TYO:6758) plans to launch a 1 trillion-yen joint venture with Taiwan Semiconductor Manufacturing or TSMC (TPE:2330) to produce next-generation image-sensor semiconductors in Japan, according to media reports.

Also, Niterra (TYO:5334) has withdrawn the automotive components business of its U.S. subsidiaries, Wells Vehicle Electronics Holdings and Wells Vehicle Electronics LP, according to a Friday release.

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