Japanese stocks rebounded on Monday after huge losses at the end of last week, as export-linked issues were buoyed by the yen’s fall against major currencies.
The benchmark Nikkei 225 Stock Average gained 307.85 points or 2.19 per cent to end at 14,396.04. The Nikkei had lost 2.75 per cent on Friday.
The broader-based Topix index was up 20.08 points or 1.7 per cent at 1,198.36 after falling 2.08 per cent on Friday.
On currency markets at 3 p.m. (0600 GMT), the dollar traded at 97.63-64 yen, up from Friday’s 5 p.m. quote of 97.01-03 yen.
The euro was quoted at 134.72-76 yen, up from 134.12-16 yen late Friday and at 1.3802-3803 dollars, down from 1.3825-3827 dollars.
A weaker yen makes Japanese goods more competitive overseas and improves repatriated revenues.
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