TOKYO: Tokyo stocks jumped 1.27 percent Monday morning, boosted by a solid US jobs report and China’s decision to cut interest rates again, but Sharp and Toshiba plunged on concerns about their balance sheets.
The Nikkei 225 index at the Tokyo Stock Exchange rose 245.32 points to 19,624.51 by the break, while the broader Topix index of all first-section shares added 1.00 percent, or 15.81 points, to 1,603.57.
China’s central bank on Sunday cut rates by 25 basis points — after two similar moves since November — as it looks to support the world’s number two economy, which grew last year at its slowest pace in nearly a quarter of a century.
The move is the latest stimulus by the People’s Bank of China, which has also twice this year reduced the amount of cash lenders must keep in reserve.
