Tokyo stocks rebound on Monday

Tokyo stocks rebounded on Monday, with the Nikkei Stock Average ending the day at 8,653.82, up 117.36 points, or 1.37%. European Union leaders agreed on steps toward achieving tighter fiscal discipline and greater financial stability last week in Brussels, contributing to Wall Street''s significant gains on Friday. This positive sentiment provided support for the Tokyo market after the weekend, as investors jumped on a broad range of issues. Strong stock performance in Asian markets also helped the benchmark index widen its gains at one point. The trading volume remained low, however, due to a lack of domestic incentives. The gap between the day''s high and low was limited to 49 points during trading hours. Trading value on the first section of the Tokyo Stock Exchange reached approximately 877.2 billion yen on a preliminary basis, falling below 1 trillion yen for the first time in two trading days. This was the lowest level seen since the 800.3 billion yen recorded on December 5.