Asian stock markets closed broadly higher Monday as investors awaited a Japanese interest-rate decision later in the week.
In Tokyo, the Nikkei 225 index rose 64.44 points, or 0.36 percent, to finish at 17,940.09 while in Hong Kong -- markets remained shut for Lunar New Year celebrations.
Traders said the retail sector led Tokyo's gains following weekend media reports of a possible merger between Daimaru Inc. and the department store unit of Matsuzakaya Holdings Co. While spokesmen for the two companies said nothing had been decided, they both left open the possibility of merging with a rival to cope with increasing competition.
Daimaru jumped 8.63 percent to 1,825 yen ($15.34) while Matsuzakaya shot up 10.28 percent gain to 1,073 yen ($9.02).
Other gainers included Sumitomo Metal Industries Ltd., which added 3.28 percent to 567 yen ($4.76), and Makino Millings Machine Co., which rose 4.25 percent to 1,522 yen ($12.79).
Elsewhere:
MANILA: Philippine shares slid Monday as investors took profits in Philippine Long Distance Telephone Co. and Globe Telecom Inc. following recent gains. The 30-company Philippine Stock Exchange Index dropped 4.53 points, or 0.1 percent, at 3,329.03, adding to Friday's 1.4 percent loss. The index had advanced 4.5 percent to a 10-year high prior to Friday's fall.
WELLINGTON: New Zealand stocks dropped Monday and look set for a further correction in coming sessions as market valuations look stretched against the backdrop of a lackluster first-half reporting season to date. The benchmark NZX-50 was down 39.67 points, or 1 percent, at 4,140.22.
SYDNEY: Australian stocks rose 0.6 percent to hit a record high Monday on strength across the board as the corporate earnings season yielded mostly better-than-expected reports. The benchmark S&P/ASX 200 index closed up 36.4 points at 5,990.1 on light volume. It hit a record intraday high of 6,003.2 points.
With files from wire services
