Japanese markets jump on earnings optimism

Japanese markets surged on earnings optimism after Fast Retailing posted strong fiscal first-quarter earnings and also lifted its earnings outlook for the year. Shares of the Uniqlo clothing brand owner soared 10.7 percent.

Automakers also advanced on the back of a weaker yen, with Honda Motor and Toyota both rallying around 3 percent. The Nikkei average jumped 1.61 percent to 51,939.89 while the broader Topix index settled 0.85 percent higher at 3,514.11.

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