Tokyo stocks jump on Wall St. gains as U.S. rate hike fears ease

Tokyo stocks surged Monday morning after Wall Street was buoyed by speculation that interest rate hikes by the Federal Reserve may have ended following labor market data suggesting the U.S. economy is cooling.

The 225-issue Nikkei Stock Average rose 770.63 points, or 2.41 percent, from Thursday to 32,720.52. The broader Topix index was up 41.15 points, or 1.77 percent, at 2,363.54. Japanese financial markets were closed Friday for a national holiday.

On the top-tier Prime Market, gainers were led by nonferrous metal, transportation equipment and machinery issues.