Japan’s Nikkei 225 Stock Average (NKY) surged 3.2 percent, climbing above 13,000 for the first time since August 2008, as the yen fell against all its major peers. Toyota Motor Corp., the world’s largest carmaker, jumped 3.2 percent and Canon Inc. jumped 3.7 percent as the weakening currency boosted the earnings outlook for companies making sales abroad. Stocks outside Japan fell.

 

The MSCI Asia Pacific Index climbed 1.1 percent to 135.08 as of 9:57 a.m. in Tokyo, paring this week’s drop to 0.4 percent. Markets in Hong Kong reopen later today, while those in China and Taiwan remain closed for a holiday.

“It’s a typhoon of cash globally,” said Jason Brady, a fund manager who helps oversee about $84 billion in assets at Thornburg Investment Management Inc. in Santa Fe, New Mexico. “Central banks everywhere are doing the exact same thing. You have to believe that all of this printing or all of this stimulus is actually going to lead to sustainable economic growth.” He spoke in a Bloomberg TV interview with Susan Li.