Japan Market Surges; Nikkei Near 7-month High

The Japanese stock market opened on a buoyant note on Monday with investors going on a buying spree in early trades following the yen’s decline against the U.S. dollar and the euro as well.

A rate cut by the Chinese central bank, easing worries about the eurozone economy amid hopes of a solution to Greece’s debt woes, and expectations of improved earnings for exporters too appear to be contributing to the surge.

The benchmark Nikkei 225 index, which rose to 9,549.3, a near 7-month high, after opening nearly 120 points up at 9,502.8, is currently trading at 9,508, up 123.8 points or 1.3 percent over its previous close.

Financial, automobile, steel, non-ferrous metals, electric power and precision instruments are trading notably higher. Stocks from construction, services and retail sections are trading mixed.

From: RTT News