AP: Japan stocks up sharply on relief over China, yen
TOKYO -- Japan stocks rebounded sharply Friday, as a weaker yen lifted exporters and robust Chinese economic data spurred buying of machinery makers.
The benchmark Nikkei 225 stock average added 245.05 points, or 2.5 percent, to 10,107.87. The broader Topix index rose 1.7 percent to 888.57.
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Markets throughout Asia cheered news that China's November exports fell 1.2 percent from a year earlier in the smallest decline this year. Gains in Chinese industrial output for the month also underscored a strengthening recovery.
Japanese machinery issues rallied as a result on hopes for higher demand from China. Komatsu Ltd. ( KMTUY.PK - news - people ) jumped 3.4 percent to 1,867 yen, and Kubota Corp. ( KUB - news - people ) finished up 3.3 percent at 856 yen.
Exporters benefited from a softening yen, with Toyota Motor Corp. ( TM - news - people ) advancing 2.7 percent to 3,750 yen.
Panasonic Corp. closed 4.4 percent higher at 1,280 yen after announcing Thursday that it had secured majority control of Sanyo Electric Co. in a $4.6 billion deal.