Tokyo stocks climb one percent

TOKYO - Japanese shares rose in Monday morning trading as export-oriented issues were boosted by a weaker yen.

The benchmark Nikkei 225 Stock Average gained 96.67 points, or one percent, to trade at 9,722.66 while the broader Topix index was up 6.36 points, or 0.76 percent, at 841.34.

Shares were also helped by modest gains on Wall Street Friday when US data showed that although the unemployment rate remained stuck at 9.6 percent for the third-straight month, 151,000 jobs were added by employers, more than twice as many as economists had expected.

The Nikkei began a new week after surging Friday following a global rally bolstered by the US Federal Reserve’s decision Wednesday to further ease monetary policy. The US central bank said it would buy $600 billion in government debt over the next eight months in a bid to revive the stalled US economy.

On currency markets at 9 a.m. (0000 GMT), the dollar traded at 81.16-17 yen, up from Friday’s 5 p.m. quote of 80.80-81 yen.

The euro traded at $1.4074-4075, down from $1.4186-4187 Friday, and at 114.22-25 yen, down from 114.63-67 yen.

A weaker yen makes Japanese exports more competitive and improves overseas earnings when the revenues are repatriated.