TOKYO (AFP) — Japan's Nikkei stock index leapt more than five percent early Tuesday as a weaker yen triggered buying of export-oriented issues, brokers said.
The Nikkei-225 index gained 431.65 points or 5.03 percent to 9,008.63 in the first 30 minutes of trade before giving up some of the gains to hover around 8,900.
"Export issues led the market advance today with (the dollar) rising into the 99-yen range," said Hiroichi Nishi, broker at Nikko Cordial.
There also are expectations that the US presidential vote could become a key turning point in the current financial turmoil, he said.
On Wall Street on Monday stocks closed virtually flat in quiet trading ahead of Tuesday's presidential and congressional polls as fresh data underscored economic worries.
Tokyo markets were closed Monday for a public holiday.
Nishi said market sentiment was bright following developments in other markets Monday.
The tech-heavy Nasdaq composite ended 0.31 percent higher in New York despite a slight fall in the Dow Jones Industrial Average, he noted.
"Asian markets were also firm on Monday, providing support here today," he said.
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