Nikkei extends gain as yen weakens

The Japan share market advanced for second straight session on Tuesday, 10 May 2016, as investors continued hunting for recently battered stocks, thanks to yen depreciation against the greenback. The Japanese currency weakened against the greenback after Japanese Finance Minister Taro Aso statement on Monday that the government is ready to intervene in the currency market if the yen continues to rise or falls rapidly against other currencies. The minister reiterated those views again on Tuesday, saying that the yen's rise was one-sided, further unwinding the currency's strength. Total 31 out of 33 TSE sectors advanced, led by financial stocks, insurance, and glass and ceramic product issues. The 225-issue Nikkei Stock Average ended up 349.16 points, or 2.15%, from Monday at 16,565.19. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 28.24 points, or 2.16%, higher at 1,334.90. On the First Section, advancing issues outnumbered declining ones 1,663 to 240, while 48 ended the day unchanged.

Powered by Capital Market - Live News