Tokyo Stock Exchange rises 0.24% buoyed by yen weakness

By: MRT Desk

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Tokyo Stock Exchange rises 0.24% buoyed by yen weakness

The main index of the Tokyo Stock Exchange, the Nikkei, rose 0.24% on Tuesday, encouraged by the weakness of the yen against the dollar and despite concerns about a possible rate hike by the US Federal Reserve (Fed).

The Nikkei, which groups the 225 most representative titles of the market, advanced 65.47 points, to 27,885.87 integers.

The broadest selectiveTopix, which includes the firms in the main section, the largest capitalization, rose 0.12% or 2.32 points to 1,950.22 units.

The Tokyo parquet experienced a volatile day, in which it opened lower due to the prospect of prolonged monetary tightening in the US after the publication of the latest data on the services sector for November.

The weakness of the yen against the dollar, which moved today between 134.09 and 136.66 per dollar after the devaluation of the greenback since last week, helped improve the mood of the Tokyo square.

This weakness encourages Japanese exporters, who benefit from a weak yen when it comes to repatriating their sales.

In the main sector, gains were led by the insurance and iron and iron andsteel.

Semiconductor analysis equipment maker Lasertec had the largest trading volume, up 2.55%.

The textile firm Fast Retailing (TYO:9983), owner of clothing store chain Uniqlo, advanced 2.03%, while telecommunications and investment group Softbank (TYO:9984), fell by 2.48%.

Among the companies that posted losses were the automotive company Toyota (TYO:7203) (-0.38%) and the technology multinational Sony (TYO:6758) (-1,17 %).

In the main section, 723 companies rose versus 1,044 that went down, while 69 closed unchanged.

The trading volume amounted to 2.58 trillion yen (about 17,966 million euros).

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