Thursday, 8th July 2010
In Business In Japan,
Japanese shares rise on back of US gains
Shares on a number of Japanese stock exchanges rose on the back of gains in the US and a weaker yen, figures have shown.
The benchmark Nikkei 225 Stock Average enjoyed a boost of more than 256 points, the equivalent of 2.76 per cent. The Topix index, which is a broader share index, closed at 19.51 points up, around 2.32 per cent.
The rises were attributed to positivity on Wall Street, with investors seemingly less concerned about the ongoing European debt problems being seen in many nations.
Japan has also struggled with the impact of a strong yen for some time, which was impacting export demand for products. A weaker yen is good news for the nation, as it will likely help boost to popularity of its products and make them more appealing to overseas buyers.
Japanese firms can also benefit from higher profits when products are sold during a time of weaker currency, as revenue is worth more when converted.
Written by Kimberley Homer.