Japan’s Nikkei stock index registered its highest mark in eight months on Monday. Investors were betting on the U.S. economy after Friday’s report that far fewer U.S. corporate jobs were lost in May than most economists had forecast.
The Nikkei is now approaching the important 10,000 mark, a milestone watched closely by many traders.
“Money is flowing into assets such as commodities and stocks as risk tolerance has steadily improved on the back of hopes for a recovery.” said Takahiko Murai, general manager of equities at Nozomi Securities.
After gaining more than 2.5% last week, the index has now recovered almost 40% from it’s low in March.
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