Wednesday, 6th January 2010
In Business In Japan,
Japanese stocks up on back of weak yen
The Japanese stock exchange has risen on the back of a weak yen, reaching a 15-month high this morning (January 6th).
The Nikkei index rose by almost 50 points to 10,731, which is the highest close seen since October 2008. The Toppix also rose to 931.13, a gain of 1.3 per cent.
Rises have been attributed to a weakened yen which can help make Japanese products more competitively priced.
Speaking to Forbes, Kazuhiro Takahashi, equity strategist at Daiwa Securities SMBC Co, said: "The Nikkei index was supported as the yen eased against the dollar, trading at the 92-yen level."
However, he went on to note that overall, stock exchange gains were "modest" as the indexes were being impacted by information about levels of home selling in the US released this week, which was not as positive as market analysts had predicted.
Japan has recently emerged from its deepest recession since the end of the second world war.
Written by Kimberley Homer.