Tokyo: Japan's Nikkei average rose 2.6 per cent on Monday as exporters such as Kyocera Corp climbed on a weaker yen and after US data eased worries on Wall Street about inflation and a near-term rise in interest rates.
The Tokyo market's gains picked up pace in the afternoon, partly buoyed by rises in other Asian markets, with Hong Kong's Hang Seng Index up 2.7 per cent.
Japan's largest auto battery maker GS Yuasa Corp shot up 9.4 per cent after after the Nikkei business daily reported that its partner in next-generation batteries, Mitsubishi Motors Corp tie up with France's PSA Peugeot Citroen on electric vehicles.
Exporters gained as the dollar fetched around 108.27 yen, holding near a four-month high. A softer yen boosts exporters' overseas profits when they are brought back home.
"As many Japanese companies set their earnings projections on the assumption of the dollar averaging 100 yen, there will be expectations for upward revisions if this forex trend continues," said Masayoshi Yano, a senior market analyst at Meiwa Securities.
As of 0410 GMT, the benchmark Nikkei gained 359.61 points to 14,333.34, after having lost 3.6 per cent last week.
The broader TOPIX index climbed 2 per cent to 1,398.36.
Trade was relatively thin with many investors taking a wait-and-see stance ahead of earnings announcements by major Wall Street investment banks, starting with Lehman Brothers later in the day.
"Lehman is the focus point. As long as its earnings come out without much surprise, there would not be much worry for other earnings that follow," Meiwa's Yano said.
Electronic parts maker Kyocera climbed 4.2 per cent to 10,580 yen and Canon Inc added 2.6 per cent to 5,580 yen.
GS Yuasa rose 9.4 per cent to 526 yen and Mitsubishi Motor gained 2 per cent to 205 yen.
The Tokyo market's gains picked up pace in the afternoon, partly buoyed by rises in other Asian markets, with Hong Kong's Hang Seng Index up 2.7 per cent.
Japan's largest auto battery maker GS Yuasa Corp shot up 9.4 per cent after after the Nikkei business daily reported that its partner in next-generation batteries, Mitsubishi Motors Corp tie up with France's PSA Peugeot Citroen on electric vehicles.
Exporters gained as the dollar fetched around 108.27 yen, holding near a four-month high. A softer yen boosts exporters' overseas profits when they are brought back home.
"As many Japanese companies set their earnings projections on the assumption of the dollar averaging 100 yen, there will be expectations for upward revisions if this forex trend continues," said Masayoshi Yano, a senior market analyst at Meiwa Securities.
As of 0410 GMT, the benchmark Nikkei gained 359.61 points to 14,333.34, after having lost 3.6 per cent last week.
The broader TOPIX index climbed 2 per cent to 1,398.36.
Trade was relatively thin with many investors taking a wait-and-see stance ahead of earnings announcements by major Wall Street investment banks, starting with Lehman Brothers later in the day.
"Lehman is the focus point. As long as its earnings come out without much surprise, there would not be much worry for other earnings that follow," Meiwa's Yano said.
Electronic parts maker Kyocera climbed 4.2 per cent to 10,580 yen and Canon Inc added 2.6 per cent to 5,580 yen.
GS Yuasa rose 9.4 per cent to 526 yen and Mitsubishi Motor gained 2 per cent to 205 yen.
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