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Tokyo shares rally on softer yen

TOKYO, Dec. 11 (Xinhua) — Tokyo shares rose sharply Monday after the yen pulled again from a four-month peak and lifted export-related electronics and auto points.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 483.94 factors, or 1.50 p.c, from Friday at 32,791.80.

The broader Topix index, in the meantime, completed 34.08 factors, or 1.47 p.c, increased at 2,358.55.

The yen’s retreat from Thursday’s four-month excessive in opposition to the U.S. dollar helped carry sentiment raised by stronger-than-expected U.S. November nonfarm payrolls information that the world’s largest financial system may keep away from a recession, and the Fed could keep on with its financial tightening coverage for some time, analysts mentioned.

Market gamers right here mentioned with the yen strengthening pattern seen final week prone to have calmed, the return of a weakening yen is having a optimistic impact on Japanese shares.

Among export-heavy shares, Honda Motor climbed 36.5 yen, or 2.5 p.c, to 1,494.5 yen, whereas Sony Group added 245 yen, or 1.9 p.c, to 13,015 yen.