Kuwait- Tokyo stocks mark biggest gain in over four months

(MENAFN- Kuwait News Agency (KUNA)) TOKYO, July 11 (KUNA) -- Tokyo stocks surged Monday, with a key index rising the most in more than four months, on expectations for expanded fiscal stimulus measures following a landslide victory by the governing coalition in a parliamentary elections and strong US jobs data.

The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) advanced 601.84 points, or 3.98 percent, from Friday to 15,708.82, posting the steepest one-day gain since March 2.

The broader Tokyo Stock Price Index, which includes all First Section issues on the TSE, was up 45.91 points, or 3.79 percent, to 1,255.79, with all 33 subindexes ending in positive territory.

Investor sentiment was bolstered as Prime Minister Shinzo Abe''s ruling coalition secured two-thirds majority in Sunday''s Upper House election, which could accelerate fiscal stimulus measures to boost the Japanese economy.

Also on Friday, US shares closed higher after US Labor Department data showed better-than-expected job growth in June.

In the currency markets, at 3:50 p.m. (0650GMT), the US dollar traded at JPY 101.92-93 versus JPY 100.55-65 yen in New York and 100.60-62 yen in Tokyo at 5 p.m. Friday. (end).

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