Tokyo - Asian stocks, led by financial issues, made major gains in early trading Monday, reacting to a US decision to take control of the two largest US mortgage lenders and guarantors, Fannie Mae and Freddie Mac.
In Japan, the benchmark Nikkei 225 Stock Average jumped 438.04 points, or 3.59 per cent, in morning trading to 12,650,27 on investor confidence that the US government move would calm turmoil in global financial markets.
The broader Topix index of all first-section issues also rose 46.49 points, or 3.97 per cent, to 1,217.33.