FX.co ★ Japanese Market Sharply Higher; Up 2%

The Japanese stock market displayed a strong performance on Monday, compensating the previous session's losses. Major indicators such as the S&P/ASX 200 benchmark soared over 2 percent, surpassing the 39,500 threshold, in a response to the broad negative cues received from Wall Street on Friday. The sectors driving this surge include index heavyweights and tech-based companies.

Investors are also keeping a keen eye on the forthcoming Bank of Japan's monetary policy meeting, to learn about any changes in its monetary policy.

The Nikkei 225 Index, another critical indicator, surged by 822.52 or 2.12 percent, reaching 39,530.16 points, with the highest being 39,612.94 points. This is notable considering the previous week ended on a slight low note for Japanese shares.

Significant market players such as the SoftBank Group and Uniqlo operator Fast Retailing saw their stocks rise by almost 1 and over 4 percent, respectively. In the auto industry, Honda and Toyota experienced advancements of nearly 3 and over 2 percent, respectively.

Within the tech sector, Screen Holdings, Advantest, and Tokyo Electron each saw a surge of almost 3 percent. In the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial each gained nearly 2 percent, with Mizuho Financial earning more than 1 percent.

Major exporters also experienced a substantial enhancement with Canon and Mitsubishi Electric increasing by more than 1 percent. Other companies such as Panasonic and Sony rose by 0.4 and nearly 2 percent, respectively.

Among prominent gainers, Rakuten Group, Nissan Motor, and Lasertec jumped almost 8, over 5, and nearly 5 percent, respectively.

In contrast, Tokyo Electric Power experienced a steep drop of over 10 percent.

On the economic news front, the core machine orders in Japan underwent a seasonally adjusted decline of 1.7 percent in January, settling at 823.8 billion yen according to Monday's data from the Cabinet Office. This figure missed speculated forecasts of a 1.0 percent decline, which followed a downwardly revised increase of 1.9 in December.

The U.S. dollar is showing figures in the lower 149 yen-range as of Monday in the currency market.

On Friday, Wall Street stocks mainly surged down, with most traders setting their eyes on the following week's Federal Reserve meeting.

European markets showed a lackluster performance, with the U.K.'s FTSE 100 Index dipping by 0.2 percent, while the German DAX Index and the French CAC 40 Index had a fairly flat end to the day.

Crude oil prices also receded, retreating from their multi-month highs, mostly due to an inclination toward profit-taking following recent strong gains. West Texas Intermediate Crude oil futures for April ended at $81.04 per barrel, down by $0.22.