Nikkei 225 recovers to 28,000 mark

The benchmark index on the Tokyo Stock Exchange rose more than 300 points on Monday as concern eased slightly over an acceleration of US monetary tightening.

It is the first time the Nikkei Stock Average has recovered to the 28,000 mark since December 15.

The index ended the day at 28,237, up 310 points from Friday's close.

Analysts say investors placed buy orders for tech shares, following a rally in chip-related shares in New York. But they say concern over the economic outlook suppressed the rise in stock prices at some points during the day.

The Japanese currency strengthened against the dollar in Tokyo trading hours on Monday.

The yen rose at one point to the upper 135 level against the dollar.

Last weekend, US long-term interest rates dropped in the foreign exchange markets after a senior Federal Reserve official made a negative remark about the acceleration of rate hike timetables.

This made investors aware of a narrowing gap between US and Japanese rates, prompting dollar-selling and yen-buying.