Japanese stocks surged Friday on their first trading day of 2013, bolstered by a weaker yen and the US Congress' passage and President Barack Obama's signing of a bill to avert a "fiscal cliff" of automatic tax hikes and spending cuts. The benchmark Nikkei 225 Stock Average gained 292.93 points, or 2.82 per cent, to end at 10,688.11 while the broader Topix index was up 28.71 points, or 3.34 per cent, at 888.51. Exporters were buoyed by the yen's fall against major currencies. A weaker yen makes Japanese goods less expensive abroad and improves repatriated revenues. Japan's markets were closed Monday through Thursday for the New Year's holidays. On currency markets at 3 pm (0600 GMT), the dollar traded at 87.74-76 yen, up from 86.30-31 yen at 5 pm December 28. The euro was quoted at 114.44-46 yen, up from 114.36-38 yen at 5 pm December 28, and at 1.3042-3043 dollars, down from 1.3249-3253 dollars.
