TOKYO, (MILLAT/APP/AFP) – Tokyo stocks
rebounded Monday morning, with struggling Toshiba rallying after saying it plans to announce a delayed earnings report this week.
The rise comes after Friday’s US jobs reports came in well above forecasts, reinforcing expectations for a US interest rate hike this week, and followed by several more later in the year.
The figure sent the dollar up against the yen — a plus for Japanese shares.
The greenback was trading at 114.85 yen on Monday, up slightly from 114.78 yen in New York, although down from levels above 115 yen seen earlier Friday in Asia.
“Even though the dollar hit above 115 yen last week, the US jobs data
confirmed the resilient American economy and market environment is not so bad,” said Hideyuki Suzuki, head of investment information research department at SBI Securities.
Tokyo’s benchmark Nikkei 225 index edged up 0.19 percent, or 37.40 points, to 19,642.01 by the == break and the Topix index of all first-section issues rose 0.21 percent, or 3.36 points, to 1,577.37.
Toshiba jumped 3.60 percent to 215.8 yen after a report said the company will announce its earnings Tuesday, which was later confirmed by a company spokesman.