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It closed at 8,843.44 points, which represented an increase of 1.9 per cent over the course of the day.
Today's spike in the market cancelled out the 0.8 per cent lost last Friday and pushed it above its 8,744-point five-day moving average.
Speaking to Reuters, Ryota Sakagami, chief strategist at SMBC Nikko Securities, commented: "Markets are now reversing some of their earlier selling in which they were trying to price in the chance of some banks being unable to raise cash."
He added that the progress seen today was greater than traders had expected.
On Friday, the Nikkei 225 plunged to 8,682.15 points, with electronics manufacturer Olympus dipping by 4.9 per cent, making it the most active stock by turnover for the fifth consecutive day.
Posted by Greg Secker
