Tokyo stocks are rising after the yen fell, but US stimulus curbed gains

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Sharjah 24 – Reuters:Japanese stocks rallied on Wednesday as some investors bought shares of major export companies after a slight decline in the yen, but caution remains as talks about additional US economic stimulus have faltered.

The Nikkei index closed 0.41% higher at 22,843.96 points, led by the industrial sector, and the non-essential consumer goods sector gains, and the broader Topix index rose 1.23%.

The decline of the yen leads to an increase in the profits of exporters when they are transferred from abroad, and the yen, which fell for a short period to its lowest level in about 3 weeks on Wednesday, last traded at 106.74 against the dollar.

The largest percentage gainers on the index were Ibarra Industries, which rose by 11.4%, followed by NSK Precision Parts, which rose 7.06%, and IHI Industrial Equipment, which increased 5.95%.

SoftBank Group shares fell 2.66% as investors sold the stock to take profits after the group announced its after-hours profits in the market on Tuesday.

188 stocks advanced on the Nikkei, compared to 33 stocks fell.





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