TOKYO, June 4 (Reuters) - Japan’s Nikkei share average rose to a one-week high on Monday, tracking Friday’s Wall Street’s gains after May jobs data pointed to strength in the U.S. economy, while a weaker yen lifted shares of Japanese exporters.
The Nikkei ended up 1.37 percent at 22,475.94 after going as high as 21,515.72, its highest since May 28.
Monday’s gain was the biggest for a day since April 18.
Exporters such as automakers were bought after the dollar climbed to a one-week high against the yen following data showing that U.S. job growth gathered pace last month, adding to a string of update economic data.
“The market is relieved, after it saw some global concerns recently,” said Nobuhiko Kuramochi, a strategist at Mizuho Securities. “The Nasdaq’s gains and receding geopolitical concerns are also helping investors’ risk appetites.”
Toyota Motor Corp soared 3.9 percent, Honda Motor Co added 2.39 percent and Nissan Motor Co advanced 2 percent.
Tech shares also gained ground after U.S. peers rallied on Friday. Chip-making equipment manufacturer Tokyo Electron gained 2.35 percent, TDK Corp jumped 4.53 percent and silicon wafer maker Shin-Etsu Chemical 2.35 percent.
Analysts also said investors were relieved after U.S. President Donald Trump announced the resumption of plans for a June 12 summit with North Korea’s leader Kim Jong Un.
Also calming investors’ nerve was Italy’s move to install a coalition government, removing the risk of a repeat vote dominated by debate on whether the country would quit the euro.
Japanese tea beverage drink maker Ito En jumped 6.91 percent after saying it expects an 11.5 percent rise in net profit of 14 billion yen for the year ending April 2019. It also said it will buy back up to 220,000 shares, 0.25 percent of those outstanding, worth up to 1 billion yen.
The broader Topix gained 1.46 percent to 1,774.69. (Editing by Richard Borsuk)