Japan’s Nikkei ends higher on US rate cut prospects, shippers fall

Japan's Nikkei share average ended higher on Monday, underpinned by prospects for U.S. rate cuts that also lifted the S&P 500 and Nasdaq late last week, although shipping shares fell on expectations a resumption in Red Sea shipping would weigh on freight rates. The Nikkei rose 0.26% to close at 33,254.03, while the broader Topix inched up 0.04% to 2,337.40. "The gains were limited as investors hesitated to make active bets with the close of overseas markets on the Christmas holiday," said Takehiko Masuzawa, trading head at Phillip Securities Japan.