Nikkei snaps four-day losing streak

Tokyo: Japan’s Nikkei stock average rose 1.7% on Monday, its biggest one-day percentage gain in two weeks, with Honda Motor Co leading the market up after a sharp fall in oil prices temporarily soothed economic fears.

Banks also forged higher, with Mitsubishi UFJ Financial Group and other megabanks all gaining more than 4 percent, after US financial stocks rose on hopes that Lehman Brothers may attract a major investor.

The benchmark Nikkei gained 212.62 points, rising to 12,878.66 to snap a four-day losing streak. The broader Topix rose 1.9% to 1,239.25. Both had earlier risen over 2%.

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!