Shares of Japan Airlines jump on link-up rumors

Officials at Japan Airlines (JALSY) aren't acknowledging rumors swirling about link-ups with other airlines that could infuse Asia's largest airline with some much-needed cash. But traders in Japan on Monday, evidently giddy over the prospect, sent shares soaring.

Shares of JAL jumped 8 percent in Tokyo trading Monday following three days of speculation that the money-losing airline might sign deals with Delta Air Lines, American Airlines and Air France-KLM that would result in JAL receiving hundreds of millions of dollars. JAL shares ascended even as the Nikkei 225 stock index fell more than 2 percent to 10,202, pushed lower by the U.S. dollar, which fell to a seven-month low against the yen.