Stock Market

Japans Nikkei average rose 1.2 percent to strike a three-month closing high on Monday, as hopes grew that the worst may be over for the US economy and exporters like Panasonic Corp gained on a weaker yen. Elpida Memory bucked the trend and plunged 10 percent after the Nikkei business daily said the microchip maker was likely to post a record net loss of for the just-ended business year.