Tokyo's Nikkei average jumped nearly three percent to its highest close in a month on Monday as a rebound on Wall Street and increased confidence in Japan's economic recovery encouraged buying. The Nikkei <.N225> was up 311.87 points at 11,439.92, its highest close since May 6. The 2.8 percent gain was its biggest in a single day since December 15, 2003, when it jumped 3.16 percent.
The broader TOPIX index <.TOPX> was up 2.37 percent at 1,151.67. Buyers flocked to shares in domestic-oriented firms such as banks and insurers on expectations that Japanese data this week, such as revised economic growth figures and machinery orders, would confirm a steady recovery, analysts said. The market's focus returned to solid fundamentals at home after U.S. stocks got a boost from strong U.S. jobs figures for May, a sign that Wall Street has factored in an interest rate rise by the Federal Reserve later this month, they said.///