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1st LD Writethru: Tokyo shares end sharply higher with Nikkei surging over 7 pct

Xinhua, February 15, 2016 Adjust font size:

Tokyo shares ended the trading Monday sharply higher with its benchmark Nikkei stocks index surging over 1,000 points and rebounding over the 16,000 line, as sentiment here was boosted by a weaker yen, the upbeat U.S. retail sales data and rebound in oil prices.

The 225-issue Nikkei Stock Average skyrocketed 1,069.97 points, or 7.16 percent, higher from Friday to 16,022.58.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 95.95 points, or 8.02 percent, to 1,292.23.

The government data showed Monday that the Japanese economy shrank annualized 1.4 percent in the fourth quarter of 2015, triggering selling of the Japanese yen and pushing the U.S. dollar to just below the 114 yen line at around 3 p.m. local time from 112 yen on Friday.

A weaker yen always boost buying of export-oriented issues.

All issues on the main board gained ground, leading by insurance, rubber products and equities issues.

The day's turnover was about 3,153.6 billion yen (around 27.68 billion U.S. dollars). Enditem