Weaker yen, rise on Wall Street give boost to Japanese stocks
Tokyo, Dec 13 (DPA) Japanese stocks rose in Monday morning trading after the yen weakened against the dollar and shares on Wall Street rose.
The Nikkei 225 Stock Average was up 14.69 points, or 0.14 percent, to trade at 10,226.64 while the broader Topix index saw a 1.83-point, or 0.21-percent, increase to 890.05.
In the US, a major export market for export-reliant Japan, stocks rose Friday with the Standard and Poor’s 500 Index closing at a two-year high, as investors welcomed new data that showed the US trade deficit narrowed in October.
In other positive news Monday for investors in Tokyo, the yen fell against the greenback. A weaker yen makes Japanese goods cheaper abroad and increases overseas earnings when they are repatriated.
On currency markets at 9 a.m. (0000 GMT), the dollar traded at 83.97-99 yen, up from Friday’s 5 p.m. quote of 83.72-73 yen.
The euro traded at $1.3196-1.3200, down from $1,3267-69 and at 110.82-85 yen, down from 111.07-11 yen late Friday.