Tokyo, Nov 9 (IANS) Tokyo stocks closed sharply higher on Monday as the latest US jobs data released on Friday reinforced hopes the Federal Reserve will raise its key rate, with the rising dollar against the yen giving exporters a boost.
The 225-issue Nikkei Stock Average gained 377.14 points (1.96 percent) from Friday to close at 19,642.74, Xinhua reported.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 27.38 points (1.75 percent) higher to finish at 1,590.97.
Local traders noted that the weaker yen was a boon for exporters who see their competitiveness in overseas markets rise and their profits augmented when repatriated when the yen is weak.
At the end of the trading day, insurance, precision instruments and banking issues were among notable gainers. The turnover was 2,998.3 billion yen ($24.28 billion).