Nikkei surges to 20-month high
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Japanese retail sales have been stronger so far this year.
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TOKYO, Japan (CNN) -- Japan's stock market is at a 20-month high in early trade Monday on growing optimism about an economic recovery.
The Nikkei 225 average is up 2.24 percent to 11,289.73, after earlier hitting a 20-month intraday high of 11,300.58.
The broader Topix index is up 1.83 percent at 1102.29.
Japanese retailers are doing well, with Ito-Yokado up 2.4 percent to 4220 yen.
Tech bellwether Tokyo Electron is 3 percent higher to 6790 yen, and Advantest is up 2.8 percent to 8360 yen.
Big banks are also stronger, led by a 2.5 percent gain for UFJ at 502,000 yen. Mizuho is up 2.5 percent to 337,000 yen.
The dollar is trading at 109.25 in Tokyo.
In the auto sector, Toyota is continuing to make ground, up 2.1 percent to 3850 yen. Nissan and Honda are just in the black.
Consumer electronics leader Sony is 1.8 percent ahead to 4540 yen and Softbank is up 2.5 percent to 4140 yen after apologizing to customers for a data leak.
Last Friday, the government released data showing Japan's industrial output rose strongly in January, helped by robust demand for electronics goods. Other data showed retail sales picked up and small companies feel optimistic about their prospects. (Full story)
In other markets in the region, Australia's S&P/ASX200 is about half a percent higher, Taiwan's Taiex is 1.27 percent ahead and Singapore's Straits Times index is up about 0.6 percent.
South Korea is closed Monday for a national holiday.
The moves in Asia follow a flat close Wall Street Friday, with the Dow putting on 0.04 percent and the tech-heavy Nasdaq slipping 0.14 percent. (Full story)
