News Column

Japanese Shares Rise on Weaker Yen

April 11, 2013
Japanese yen
Japanese yen

Japanese stocks soared Thursday as the yen edged closer to 100 yen to the US dollar on further monetary easing by the Bank of Japan.

The benchmark Nikkei 225 Stock Average gained 261.03 points, or 1.96 per cent, to end at 13,549.16 while the broader-based Topix index was up 26.25 points, or 2.34 per cent, at 1,147.29.

Export-linked shares were bolstered by the yen's decline against major currencies. A weaker yen makes Japanese goods less expensive overseas and improves repatriated earnings.

On currency markets at 3 pm (0600 GMT), the dollar traded at 99.64-66 yen, up from Wednesday's 5 pm quote of 99.34-36 yen.

The euro was quoted at 130.24-27 yen, up from 130.18-21 yen late Wednesday, and at 1.3069-3071 dollars, down from 1.3104-3106 dollars.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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