Nikkei soars 5.6 per cent on overseas rallies, a falling yen


Tokyo (dpa) – Japan’s benchmark Nikkei 225 Stock Average surged 5.6 per cent, gaining nearly 1,000 points, Wednesday morning as sentiment was bolstered by a weaker yen and overnight rallies on Wall Street and European markets.

The Nikkei added 988.12 points, or 5.67 per cent, to trade at 18,415.2 at 11:30 am (0230 GMT) at the end of the morning session.

The broader Topix index rose 66.04 points, or 4.66 per cent, to trade at 1482.75.

Export-linked shares were buoyed by the yen’s fall against major currencies. A weaker yen makes Japanese goods more competitive abroad and improves repatriated revenues.