Japan stocks register strong gains

Japanese markets logged strong gains, led by banks and technology stocks. The Nikkei average jumped 0.80 percent to 38,513.02 while the broader Topix index settled 1.27 percent higher at 2,714.72.

Advantest, Screen Holdings, Sumitomo Mitsui Financial, Mizuho Financial and Mitsubishi UFJ Financial climbed 2-4 percent.

The manufacturing sector in Japan continued to contract in November, and at a faster pace, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 49.0.

That's down from 49.2 in October, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

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