Japanese stocks jumped 1.2 per cent Monday morning after rallies on Wall Street and European markets late last week and as export-oriented issues got a boost on receding fears over the eurozone debt crisis.
The benchmark Nikkei 225 Stock Average gained 102.8 points, or 1.21 per cent, to trade at 8,617.27 by the end of the morning session at 11 am (02:00 GMT).
The broader-based Topix index was up 6.56 points, or 0.9 per cent, at 735.69.
Exporters rose strongly after Italy passed an austerity bill and took steps to appoint a new premier following the resignation of Silvio Berlusconi.
Japan’s economy grew at an annualized pace of 6 per cent in the July-September quarter, the first expansion in four quarters, as it rebounded from the aftermath of the March 11 earthquake and tsunami, the government said.
In Tokyo, on currency markets at 11 am (0200 GMT), the dollar traded at 77.15-18 yen, down from Friday’s 5 pm quote of 77.45-46 yen.
The euro traded at 1.3760—3764 dollars, up from 1.3621—3622 dollars Friday, and at 106.16—18 yen, up from 105.49—51 yen.
