The yen fell back to the upper 148 zone against the U.S. dollar Monday morning in Tokyo after briefly surging to the 145 level on apparent yen-buying intervention conducted by Japan for a second time since late last week in New York.
Tokyo stocks were higher as investor sentiment was lifted by speculation that the U.S. Federal Reserve could start slowing down its interest rate hikes from December or later.
The 225-issue Nikkei Stock Average rose 266.37 points, or 0.99 percent, from Friday to 27,156.95. The broader Topix index was up 15.72 points, or 0.84 percent, at 1,897.70.
On the top-tier Prime Market, gainers were led by marine transportation, machinery and insurance issues.
