Markets

Tokyo stocks up by break as Sharp soars on Foxconn takeover

Published April 4, 2016 Updated April 4, 2016 04:48am

1 min

By Fawad Maqsood

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TOKYO: Tokyo stocks rose on Monday morning, with Sharp surging more than five percent after the struggling company formally signed a deal to be taken over by Taiwan's Foxconn for $3.5 billion.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange advanced 0.21 percent, or 33.63 points, to 16,197.79 by the lunch break, while the broader Topix index of all first-section shares gained 0.63 percent, or 8.17 points, to 1,309.57.

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