Tokyo’s markets saw gains Wednesday based on new data showing that Japan’s trade surplus quadrupled in August as automobile exports were up by 22 percent.
Expectations of another interest rate cut in the United States after new reports from the housing market there also helped.
The Nikkei 225 was 0.21 percent higher to 16,435.74 and the Topix index added 0.59 percent to 1,576.02, while the Mothers market jumped 8.13 percent to 682.78.
Banks were higher on a report that investments in mutual funds at Japan’s three largest banks were up by 3 percent in August.
Mizuho (TYO: 8411; NYSE: MFG) gained 1.1 percent to ¥628,000 while Sumitomo Mitsui (TYO: 8316) was 2.6 percent higher to ¥833,000.
Mitsubishi UFJ (TYO: 8306; NYSE: MTU) is sitting out this week due to a stock split.
Truck and bus maker Hino Motors (TYO: 7205) added 4 percent to ¥909 after a higher profits forecast based on higher demand from the Middle East and South America.
In the retail sector, electronics retailer Yamada Denki (TYO: 9831) was up 3.5 percent to ¥10,610 after it raised its stake in Best Denki (TYO: 8175) to 7.71 percent and said that it wants to increase its stake in the competing retailer to 20 percent.
Best Denki gained 4.3 percent to ¥854.
Yamada Denki’s purchase and declaration came after Bic Camera (TYO: 3048) said that it would spend ¥5.7 billion to raise its stake in Best Denki to 9.33 percent.
Bic Camera was 0.5 percent lower on the session to ¥59,700.
The oil sector was lower on overnight declines in oil prices.
Japan Petroleum Exploration (TYO: 1662) was 0.7 percent lower to ¥8,270, while Inpex (TYO: 1605) fell 5.8 percent to ¥1.13 million.
Nuclear reactor manufacturer Toshiba (TYO: 6502; LSE: TOS), however, added 4.2 percent to ¥1,027 as investors speculated that its fiscal second quarter report will be better than anticipated.