Japanese stocks have jumped out of the gate on Monday, rising more than 2%

Photo by Vince Caligiuri/Getty Images

Japanese stocks have jumped out of the gate on Monday morning, propelled higher by a weaker yen in the wake of the weekend’s Jackson Hole central bank symposium.

After 20 minutes of trade the Nikkei 225 sits at 16,705.56 points, up 2.11% for the session.

Nikkei 225 Hourly Chart

Stocks have been boosted by a strengthening US dollar, helping to underpin Japanese exporters.

The USD/JPY currently sits at 101.98, some 1.5% higher than where it was trading this time on Friday.

Hawkish remarks from US Federal Reserve chair Janet Yellen and vice chair Stanley Fischer at the symposium helped to lift US bond yields on Friday, seeing the Japanese yen weaken as a consequence.

The gains are no doubt being helped by comments made by Bank of Japan governor Haruhiko Kuroda over the weekend in which he stated “there is no doubt that there is ample space for additional easing in each of the three dimensions”.

“The bank will carefully consider how to make the best use of the policy scheme in order to achieve the price stability target,” he told the Federal Reserve Bank of Kansas City’s symposium, according to Bloomberg.

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