Tokyo Stock Exchange rises 0.40% buoyed by yen weakness

By: News Team

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Tokyo Stock Exchange rises 0.40% buoyed by yen weakness

The main index of the Tokyo Stock Exchange, the Nikkei, closed up 0.40% on Thursday as investors cheered up some weakness in the yen and bought export-oriented stocks again.

The Nikkei, which groups the 225 most representative titles of the market, advanced 103.94 points, to stand at 25,820.80 integers.

The selective Topix, which includes the largest capitalization firms in the main section, gained 0.04% to 1,868.90.

The Tokyo parquet opened higher encouraged by technology and car companies and the weakness of the yen, which moved today between 131.67 and 132.62 per dollar.

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

Momentum, however, waned in the afternoon with most investors trying to secure gains following recent losses, analysts said.

In the main sector, gains were led by the appliances, glass and ceramics products and services sectors. The stocks that led the declines were insurance, banks and air transport.

Among the stocks with the largest market capitalization in Tokyo, tech giant Softbank ended up 1.86%, while Japan’s automotive leader, Toyota Motor, rose 0.47%.

In the semiconductor sector there were strong gains, such as those of Lasertec, which advanced by 2.39%, while Tokyo Electron gained 4.01%.

Video game giant Nintendo rose 0.78% and textile multinational Fast Retailing, owner of the Uniqlo clothing store chain, rose 0.15%.

In the main section, 662 companies rose, while 1,115 were down and 60 ended the day unchanged.

The trading volume amounted to 2.58 trillion yen (18,419 million euros).

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