Nikkei rises to two-week high on weak yen; Sharp soars

28 Mar, 2016 9:37 am

TOKYO – Japanese stocks rose to a two-week high on Monday thanks to a weaker yen, while Sharp Corp (6753.T) jumped on expectations it may finally sign a long-delayed takeover deal with its Taiwanese suitor.

The Nikkei .N225 gained 0.8 percent to 17,134.37, the highest closing level since March 14.

As March 31 is the business year-end for a majority of listed companies, the market was also underpinned by investor purchases of stocks before they go ex-dividend on Monday.

The broader Topix .TOPX rose 1.2 percent to 1,381.85 and the JPX-Nikkei Index 400 .JPXNK400 gained 1.2 percent to 12,482.88. -Reuters

Must Watch

Oops, something went wrong.