Nikkei surges to 1-1/2 week high after Yellen’s speech, weak yen

Japanese stocks surged to 1-1/2-week highs on Monday as the yen weakened after U.S. Federal Reserve Chair Janet Yellen signalled an interest rate hike remains on the cards this year, lifting insurers and exporters.

The Nikkei share average soared 2.3 percent to 16,737.49, the highest closing level since August 17.

The broader Topix gained 2.0 percent to 1,313.24 and the JPX-Nikkei Index 400 rose 2.1 percent to 11,810.49.

Source: Reuters