The Nikkei average rose 1.4 percent on Monday as real estate and construction stocks gained on hopes that Tokyo will win the race to host the 2020 Summer Olympics, while consumer finance shares climbed after a media report citing rising loan demand.
The Nikkei gained 184.06 points to 13,572.92, and the Topix index added 1.1 percent to 1,117.78. Volume was subdued, with only 1.85 billion shares changing hands as U.S. markets are closed for the Labor Day holiday on Monday.
The Abe administration will raise the minimum wage by 3 percent each year starting next fiscal year as part of a package of policies aimed at strengthening consumer spending and stoking economic growth. (Japan Times)
A former member of the Hyogo Prefectural Assembly who gained Internet notoriety when he suffered a breakdown during a news conference failed to show up Tuesday for the start of his fraud trial. (Japan Times)
Three bodies have been retrieved from a boat found floating in the Sea of Japan off the coast of Fukui Prefecture on Sunday, two days after a similar discovery in waters off a neighboring prefecture, reports the Yomiuri Shimbun (Nov. 23). (Tokyo Reporter)