Tokyo stocks surged Tuesday, extending a global equities rally with a weaker yen lifting exporters as investors shrugged off failed talks to cut oil output.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange soared 3.68 percent, or 598.49 points, to close at 16,874.44, while the broader Topix index of all first-section shares jumped 3.25 percent, or 42.88 points, to 1,363.03.