Tokyo: Japan’s Nikkei share average ended higher on Monday, underpinned by Wall Street’s strong finish last week and a weaker yen. The Nikkei jumped 1.7% to 37,785.47, while the broader Topix climbed 1.77% to 2,729.56.
According to Qatar News Agency, the yen fell to as low as 151 yen to the dollar on Monday, after hitting an over 2-1/2 month high last week. A weaker local currency tends to boost exporters’ shares, as it increases the value of overseas profits in yen terms when firms repatriate them to Japan.
All of the Tokyo Stock Exchange’s 33 industry sub-indexes rose, with the services sector rising 3.26% to become the top performer.