Japanese markets surge led by tech stocks

Japanese markets surged to end a four-session losing streak led by a robust rally in technology stocks. Sentiment was also lifted by a weaker yen, which hit a 10-month low against the dollar after reports suggested that the government is in the final stages of assembling a stimulus package worth 21.3 trillion yen ($135.38 billion).

The Nikkei average hit an intraday high of 50,574 before paring some gains to end the session up 2.65 percent at 49,823.94. The broader Topix index settled 1.66 percent higher at 3,299.57. Among the top gainers, SoftBank Group, Tokyo Electron and Fujikura climbed 2-6 percent.

 

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