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Tokyo stocks closed sharply higher Monday, as the Bank of Japan's surprise policy announcement last week stoked hopes for more central bank stimulus, while Sony skyrocketed on upbeat quarterly earnings. The electronics giant on Friday reported a nine-month net profit of almost $2.0 billion, as huge demand for its PlayStation video games console and image sensors found in mobile gadgets help it move past years of losses.
Sony surged 12.40 percent to close at 2,836 yen. Tokyo's benchmark Nikkei 225 index got a boost, tracking rallies in the US and in Europe as the unexpected BoJ stimulus raised hopes for more central bank moves to lift growth. The blue-chip Nikkei jumped 1.98 percent, or 346.93 points, to finish at 17,865.23, adding to Friday's 2.8 percent gain.
The broader Topix index of all first-section shares rose 2.14 percent, or 30.60 points, to 1,462.67. Japan's central bank on Friday announced a negative interest rate policy on some deposits, meaning it would effectively start charging lenders to park their cash with it.
Tokyo investors will also be eyeing a string of corporate earnings this week, with Nintendo, Panasonic, Toshiba and banking giant Mitsubishi UFJ among the firms reporting. Toyota shares jumped 1.93 percent to 7,339 yen, as investors shrugged off news that the automaker would temporarily stop vehicle production in Japan due to a parts shortage after an explosion at a supplier factory. Rival carmaker Nissan advanced 2.71 percent to 1,212 yen, while mobile carrier SoftBank climbed 3.60 percent to 5,455 yen.
Nintendo gained 3.90 percent to 17,305 yen and factory robotics giant Fanuc added 0.66 percent to 15,915 yen. Banks fell on concerns the BoJ's new policy could hit their earnings, with Sumitomo Mitsui Financial Group dropping 7.61 percent to 3,677 yen, Mitsubishi UFJ down 5.46 percent to 576.1 yen and Mizuho Financial Group losing 5.87 percent to 193.7 yen.

Copyright Agence France-Presse, 2016

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