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Japanese stocks soared on Monday as sentiment was bolstered by an upward revision of the nation’s economic growth and Tokyo’s winning bid to host the 2020 Olympic Games.
The benchmark Nikkei 225 Stock Average gained 344.42 points, or 2.48 per cent, to end at 14,205.23, while the broader-based Topix index was up 25.18 points, or 2.19 per cent, at 1,173.
Shares in construction and real-estate companies got a boost after Tokyo was chosen to host the 2020 Games by the International Olympic Committee in Buenos Aires on Saturday.
The Government said on Monday that the economy grew at an annualised rate of 3.8 per cent in the April-to-June quarter, beating the preliminary estimate of 2.6 per cent.
On currency markets at 3 p.m. (0600 GMT), the dollar traded at 99.67-68 yen, up from Friday’s 5 p.m. quote of 99.56-58 yen.
The euro was quoted at 131.30-32 yen, up from 130.63-67 yen late Friday and at 1.3173-3183 dollars, up from 1.3120-3122 dollars.
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