Share prices in Tokyo rose 1.2 per cent today after Prime Minister Yoshiro Mori said his government should consider ways to support the plunging stock market, brokers said.
The Tokyo Stock Exchange's Nikkei-225 index gained 158.49 points to close at 13,506.23, building on Friday's 146.67-point rebound from the Nikkei's lowest finish in 27 months the day before.
Mr Mori told reporters in Greece yesterday that his government would consider ways to stop stocks from falling further, including lifting severe restrictions on companies buying back their own shares.
"At last, the government is starting to move its slow feet," said Daiwa Securities equity manager Mr Shunsuke Nishino.
But he added there was still "no sense of security for buyers" as companies continued to dump cross-shareholdings and Japan's economic outlook remained gloomy.
Among high-techs and electricals, Sony gained 180 yen or 2.1 per cent to 8,980 yen and TDK rose 550 yen to 11,000 yen. Japan's biggest computer maker Fujitsu gained 85 yen to 1,875.
Top car-maker Toyota gained 80 yen to 3,520 yen.
But mobile phone operator NTT DoCoMo lost 10,000 yen to 1.96 million after announcing Friday that it would issue up to 460,000 new shares next month to pay for overseas investments.
AFP