Tokyo stocks skyrocket more than 5% by lunch break

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Tokyo shares plunge more than five percent, deepening an equities market bloodbath as a sharp rise in the yen hammers exporters and sentiment takes a battering over fears of a global economic slowdown. (Photo captured from AFP video)
Tokyo shares plunge more than five percent, deepening an equities market bloodbath as a sharp rise in the yen hammers exporters and sentiment takes a battering over fears of a global economic slowdown. (Photo captured from AFP video)

TOKYO, Japan (AFP) — Tokyo stocks surged more than five percent Monday morning as a drop in the yen boosted exporters with investors shrugging off a contraction in Japan’s economy during the final quarter of 2015.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange soared 5.12 percent, or 765.81 points, to 15,718.42 by the break, clawing back from an eye-watering loss of more than 11 percent last week.

The broader Topix index of all first-section shares jumped 5.97 percent, or 71.38 points, to 1,267.66.

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