“tankan” survey by the Bank of Japan showed business sentiment has improved sharply with expectations for a recovery from a year-long recession.
The main measure of business conditions of large manufacturers rose to minus 10 from minus 27. It showed rebounds in all categories, both manufacturing and nonmanufacturing companies, large and small.
It was a marked improvement from the past several quarterly reports as Japan battled the coronavirus pandemic. The tankan measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those responding they are positive.
The Nikkei picked up 125 points to 26,780.36. In Hong Kong, the Hang Seng shed 0.1% to 26,479.46. The Shanghai Composite index rose.