TOKYO - JAPANESE share prices opened up 0.98 per cent on Monday after the US administration unveiled a massive rescue plan for the battered financial sector.

The benchmark Nikkei-225 index gained 117.03 points to 12,037.89 in the first minute of trading.

The US Treasury has asked Congress for authority to spend US$700 billion (S$1 trillion) to buy toxic mortgage-related assets from financial institutions.

Treasury Secretary Henry Paulson also said on Sunday the United States is 'aggressively' pushing for other countries to come up with their own bailouts for financial institutions.