Tokyo Stock Exchange
12:15 JST, June 10, 2024 (updated at 16:30 JST)
TOKYO, June 10 (Reuters) – Japan’s Nikkei share average closed higher on Monday as export-related stocks gained on a weaker yen following stronger-than-expected U.S. jobs data, while a rise in domestic yields boosted financial stocks.
The Nikkei rallied 0.92% to 39,038.16, its highest closing level since May 23, while the broader Topix rose 1% to 2,782.49.
The upside surprise in U.S. jobs growth prompted worries that the Federal Reserve may wait longer to cut interest rates, spurring a rebound in the dollar.
The dollar traded around 157.07 yen during the session to support export-related stocks including Toyota Motor , up 1.7%, which tend to benefit from a weaker domestic currency.
On the day, insurance and banking stocks rallied, with Dai-ichi Life Holdings gaining 3.6% to lead the pack, as Japanese government bond…
