Japanese Stocks Rise as Yen Weakens
Japanese stocks rose as a weaker yen provided support for exporters while a diplomatic agreement to promote travel from China boosted companies that rely on inbound tourism.
The Topix rose 0.4% to 2,744.65 as of 9:24 a.m. in Tokyo
The Nikkei 225 gained 0.3% to 39,264.60
Toyota Motor was the biggest contributor to the Topix’s gain, rising 4.4%.
Of the 2,124 stocks in the index, 1,082 rose and 857 fell, while 185 were unchanged. The yen was steady at 157.20 per dollar after falling for the past three days.
Department stores including Isetan Mitsukoshi Holdings and Takashimaya rose after China and Japan agreed to introduce more measures to promote travel between the two countries. Fast Retailing and J Front Retailing also rose.
Source: Bloomberg
