Nikkei jumps 3.6 pct after Fannie, Freddie bailout
(Updates to midday)
TOKYO, Sept 8 (Reuters) - The Nikkei average jumped 3.6 percent on Monday, its biggest percentage gain in five months, with financial issues soaring on the U.S. government's bailout of troubled mortgage finance companies Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz).
Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) and other exporters powered higher on a softer yen and improved investor sentiment, leading the benchmark to erase the sharp losses it booked on Friday on the gloomy outlook for the global economy.
The benchmark Nikkei average .N225 added 438.04 points to end the morning session at 12,650.27, the biggest percentage gain since a 4.2 percent advance logged on April 2.
The broader Topix .TOPX shot up 4 percent to 1,217.33. (Reporting by Aiko Hayashi)
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