YEREVAN, June 10. /ARKA/. Asian shares gained on Monday in late morning session, with Japanese stocks rebounding sharply, after a report showed the US added more workers than expected and Japan revised up its first-quarter growth.

The MSCI Asia Pacific Index added 1.2% to 132 at 10:55 a.m. in Tokyo, the biggest gain since 20 May. The Nikkei average soared 3.1%, after dropping as much as 2.8% and temporarily entering bear market territory on Friday. Shares rose after the US dollar extended its gains against the yen to above 98 yen earlier on Monday, having briefly fallen below 95 to a fresh two-month low on Friday.
Hong Kong’s Hang Seng Index gained 0.2%. New Zealand’s NZX 50 Index advanced 0.6%. South Korea’s Kospi index rose 0.3%. Markets in Australia and China are shut for holidays.

Stocks also rose after Japanese Prime Minister Shinzo Abe yesterday said the government will unveil its second growth strategy after the upper house election next month.

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The Nikkei share average surged to a fresh 5-1/2 year high on Monday, buoyed by further weakness in the yen and optimism over the growth outlook after the Japanese government raised its assessment of the economy for the first time in two months

Categories: Bonds.am @en @en, General news, News | Comments Off on Nikkei hits new 5 1/2-yr high on weak yen, signs of improving economy”: Reuters

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