Japanese shares rise on weaker yen

Feb 15, 2012, 3:04 GMT

Tokyo - Japan's benchmark Nikkei 225 Stock Average jumped 1.8 per cent Wednesday morning as export-oriented issues were bolstered by a weaker yen.

The Nikkei gained 164.55 points to trade at 9,216.62 at the end of the morning session at 11:30 am (0230 GMT).

The broader Topix index was up 12.83 points, or 1.63 per cent, at 799.63.

Exporters, such as Toyota Motor Corp and Sony Corp, rose strongly as the yen fell against major currencies, standing in the mid-78-yen range to the dollar.

A weaker yen makes Japanese goods less expensive abroad and improves repatriated revenues.

Toyota rallied 3.69 per cent, and Sony surged 4.5 per cent.

The yen started to decline after the Bank of Japan on Tuesday decided on additional monetary easing.

On currency markets at 11:30 am, the dollar traded at 78.46-48 yen, up from Tuesday's 5 pm quote of 77.96-99 yen.

The euro was quoted at 103.14-18 yen, up from 102.54-58 yen late Tuesday, and at 1.3145-3148 dollars, down from 1.3153-3155 dollars.