Japan’s Nikkei rises for 8th day on optimism for better returns to investors

Japan’s Nikkei share average closed 0.9% higher at 31,086.82 on Monday, marking its eighth straight session of gains, amid investors’ optimism for corporate initiatives to improve returns to investors. Non-life insurers, such as Tokio Marine Holdings, that announced a buyback of up to 1.5% of their own shares, led the gains, with the insurance sector gaining 2.35% and becoming among the Tokyo Stock Exchange’s top gainer among its 33 industry sub-indexes. Meanwhile, Japanese chipmaker Renesas Electronics and drug maker Daiichi Sankyo fell by 1.93%.