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Japanese Stocks Rise on Positive US Jobs Data; Oil Gains

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Japanese stocks jumped, led by a technology stock rally after positive US jobs data boosted growth sentiment while easing expectations of a Federal Reserve interest rate hike.

The benchmark Nikkei 225 closed up 1,378.90 points, or 2.12%, at 66,399.84.

Oil prices extended gains with reported fresh US attacks on Iranian oil containers in the Strait of Hormuz, derailing peace initiatives in the Middle East conflict and heightening prolonged supply disruption concerns.

Iran confirmed that its navy conducted strikes at three oil tankers in the Strait of Hormuz and three additional US vessels in other ​areas.

On the corporate side, Canon (TYO:7751) said it completed its 200 billion yen share buyback, repurchasing 45.3 million common shares through the Tokyo Stock Exchange's ToSTNeT-3 off-auction trading system, according to a Tokyo Stock Exchange filing on Monday.

Also, NEC (TYO:6701) has halted its quantum computer development project, following an evaluation that the project could take too long to generate a return on investment, according to media reports.

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