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Tokyo: Nikkei rises to 2-week high on weak yen, Sharp soars

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

The Nikkei gained 0.8 per cent 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 rose 1.2 per cent to 1,381.85 and the JPX-Nikkei Index 400 gained 1.2 per cent to 12,482.88.

REUTERS

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