Nikkei rises to more than 1-month high as exporters get boost from weak yen

Japan’s Nikkei share average soared to a more than one-month high on Wednesday morning as exporters such as automakers and technology firms got a boost after the dollar hit a six-month high against the yen.

The Nikkei surged 1.0 percent to 22,921.20 at morning close after rising to 22,949.32, its highest point since June 13.

Toyota Motor Corp advanced 1.5 percent, Mazda Motor Co surged 1.8 percent, TDK Corp soared 3.2 percent, Advantest Corp added 2.1 percent and Panasonic Corp rose 1.5 percent.

Drugmaker Shionogi & Co surged 1.9 percent after Swiss drugmaker Roche’s late-stage study showed that its new flu drug worked for people at high risk for serious flu complications.

The broader Topix gained 0.7 percent to 1,758.02.

Source: Reuters

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Nikkei rises to 2-1/2-week high; Fast Retailing jumps

Japan’s Nikkei surged to 2-1/2-week highs on Friday, helped by a weaker yen and gains from index-heavy stock Fast Retailing after it jumped on the back of strong third-quarter results.

The Nikkei share average soared 1.3 percent to 22,481.13 in midmorning trade, after rising as high as 22,530.19, its strongest since June 25. The benchmark index has gained 3.2 percent for the week so far and is set to snap a three-week losing streak.

Fast Retailing, operator of Uniqlo clothing stores, jumped 6.0 percent after its third-quarter operating profit surged 37 percent to a record 68.4 billion yen thanks to brisk sales at its overseas Uniqlo stores.

The stock added a hefty 113 positive points to the Nikkei.

The broader Topix, however, was just up 0.7 percent at 1,722.31.

The Nikkei’s outperformance led the Nikkei versus Topix, the so-called NT ratio, to 13.07, the highest since December 1998.

Source: Reuters

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