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Markets

Nikkei rallies on weaker yen, Wall Street gains

Published October 7, 2024 Updated October 7, 2024 10:23am
By

TOKYO: Japan’s Nikkei share average rose in early trade on Monday, supported by Wall Street’s gains on Friday and a weaker yen after a stronger-than-expected US jobs report suggested the world’s largest economy remained resilient.

The Nikkei had gained 2% to 39,417.6 by 0013 GMT in a widespread rally, while the broader Topix was up 1.5%.

US job gains increased by the most in six months in September and the unemployment rate fell to 4.1%, data showed on Friday, boosting global investor sentiment.

Japan’s Nikkei rises as tech shares gain

The Dow posted a record closing high on Friday and the Nasdaq ended with a more than 1% gain.

In Japan, shares of exporters got a boost from the weaker yen, after the US dollar jumped following the jobs data and pushed the Japanese currency to its lowest since mid-August on Monday.

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