After three straight trading days in the red the Nikkei 225 rebounded for a 218 point or 1.44% gain on Monday. Bargain hunters were said to be out in full-force especially in the afternoon session. The yen sustained its newfound strength against the dollar holding at the low 116 level. The stronger yen is like a one-week early Christmas present for those who have been holding Japan investments after the run-up over the past several months. Kirin Brewery (KNBWY) surged over 7% on news one of its units, Gemini Science, Inc., a U.S. company, developed an antibody that could cure bird flu.
Nikkei 225: +218.41 (+1.44%) closed at 15,391.48, opened nearly 80 points higher than prior close of 15,173.07, intra-day high was at closing, low was 15,196.00
TOPIX: +8.46 (+0.54%) closed at 1,589.24, opened over 5 points higher than prior close of 1,580.78, intra-day high was at closing, low was 1,577.46
JASDAQ: +1.20 (+1.02%) closed at 118.74, traded between 118.00 and 118.77
Today’s ADRs to watch based on earlier trading of underlying shares in Tokyo: