Tokyo stocks rebound over weak yen, strong auto shares

TOKYO, Sept. 26 (Xinhua) — Tokyo stocks rebounded on Thursday, spurred by a buying spree for auto stocks such as Toyota and Honda following the yen’s depreciation.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, jumped 2.79 percent, or 1,055.37 points, to close at 38,925.63, marking its highest level in nearly two months.
The yen’s depreciation, briefly reaching 145 yen to the dollar, prompted a buying spree for auto stocks as a weaker yen benefited the export companies.
Strong semiconductor stocks in the U.S. stock market overnight also helped drive gains in semiconductor-related shares in Japan, with stocks like Tokyo Electron seeing robust buying.
The broader TOPIX index rose on Thursday, closing 70.62 points, or 2.66 percent, higher at 2,721.12.
On the top-tier Prime Market, advancing issues outnumbered decliners by 1,580 to 56, with 9 issues remaining unchanged. ■