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.
