Japanese stocks surged on Tuesday as sentiment was lifted by the yen's slide and a news report that the government was considering slashing the corporate tax rate, DPA reported. The benchmark Nikkei 225 Stock Average gained 347.57 points, or 2.57 per cent, to end at 13,867 while the broader-based Topix index was up 22.53 points, or 1.99 per cent, at 1,157.15. On currency markets at 3 pm (0600 GMT), the dollar traded at 97.47-48 yen, up from Monday's 5 pm quote of 96.75-76 yen. The euro was quoted at 129.68-70 yen, up from 128.75-79 yen late Monday and at 1.3304-3306 dollars, little changed from 1.3306-3307 dollars.
