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Tokyo stocks rise sharply in morning on hopes for U.S. rate hike, weak yen

Xinhua, November 9, 2015 Adjust font size:

Tokyo stocks made sharp gains on Monday morning as the latest U.S. jobs data report released on Friday sparked further hope in an imminent U.S. rate hike and sent the U.S. dollar higher versus the yen.

A weaker yen is a boon for exporters who see their competitiveness in overseas markets rise and their profits augmented when repatriated when the yen is weak.

The 225-issue Nikkei Stock Average rose 412.79 points, or 2.14 percent, from Friday to 19,678.39, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange gained 30.42 points, or 1.95 percent, to end the morning at 1,594.01.

At the break, notable advancers were led by precision instruments, insurance and banking-related issues. Enditem