Business News
Japanese stocks rise to seven-week high (Roundup)
Mar 12, 2010, 6:56 GMT
Tokyo - Stocks in Tokyo climbed Friday to a seven-week high as export-oriented shares such as Nissan Motor Co were buoyed by a weaker yen.
The benchmark Nikkei 225 Stock Average added 86.31 points, or 0.81 per cent, to end the day at 10,751.26 while the broader Topix index was up 6.0 points, or 0.64 per cent, to close at 936.38.
For the week, the Nikkei was up 3.69 per cent and the Topix was 2.81 per cent higher.
Nissan shares climbed 2.21 per cent to end the day at 764 yen.
The yen was hovering in the upper range of 90 yen against the dollar.
On currency markets at 3 pm (0600 GMT) in Tokyo, the dollar traded at 90.62-67 yen, up from Thursday's 5 pm quote of 90.36-38 yen.
The euro traded at 1.3693-3696 dollars, up from 1.3634-3636 dollars Thursday, and at 124.09-12 yen, up from 123.20-24 yen.
Japanese exporters are a driving force for the world's second-largest economy. A weaker yen makes their goods more competitive abroad and improves their overseas earnings when the revenues are repatriated.
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