Japan stocks extend rally

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Japan stocks extend rally
from MarketWatch.com - MarketPulse
LOS ANGELES (MarketWatch) -- Japan stocks enjoyed another day of explosive opening gains Monday, with the benchmark Nikkei Stock Average climbing 1.6% to 9,169.58 in the early minutes, and the Topix gaining 1.7%, after the yen struck a seven-month low against the U.S. dollar. Major exporters were among the top gainers, as the dollar rose to the mid-¥81 range, and the euro closed in on the ¥104 mark amid hopes a possible change of Japanese government will push greater monetary easing. Toshiba Corp. jumped 3.9%, Hitachi Ltd. added 3%, Komatsu Ltd. rose 3.8%, Canon Inc. gained 4%, and Toyota Motor Corp. advanced 2.6%. Shares of Nintendo Co. rose 2.3% as the firm launched the Wii U in the U.S., its first home videogame console in six years. Honda Motor Co. rose 1.7% after a Nikkei business news report Saturday that the firm had raised its Japan sales target by 16% for the fiscal year ending in March.