Nikkei posts sharp 521-point rebound after Wall Street surge

Tokyo stocks turned sharply higher Monday as sentiment improved thanks to continued advances on Wall Street. The Nikkei average of 225 selected issues on the first section of the Tokyo Stock Exchange soared 521.22 points, or 2.71 percent, to end at 19,783.22, The Topix index of all first-section issues closed up 25.96 points, or 1.83 percent, at 1,447.25. It lost 4.69 points the previous trading day. From the outset, market participants rushed to buy so-called cyclical stocks vulnerable to economic conditions, particularly technology issues such as industrial robot producer Fanuc and chip-testing device manufacturer Advantest.