Nikkei 225 jumps after yen slumps against dollar on strong US jobs data | NHK WORLD-JAPAN News
Tokyo’s benchmark stock index rose sharply on Monday after the yen weakened against the dollar on strong US jobs data. Many investors shared the view that the American economy is robust.
The Nikkei 225 ended the day at 39,332, up 1.8 percent from last week’s close. The broad-based gains included shares of export-related companies. The index briefly advanced more than 900 points, or nearly 2.4 percent.
The benchmark rose for the third trading day.
The latest advance came after the yen weakened to its lowest level in about a month and a half in New York on Friday.
A better-than-expected US employment report that day prompted a wave of yen-selling in favor of the dollar.
The surprisingly strong US job market has pared expectations that the Federal Reserve will announce a major interest rate cut at its November meeting.
Employment figures are one of the Fed’s key barometers for judging the health of the US economy.
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