Tokyo’s stock market opened positively on Thursday, buoyed by an overnight rally on Wall Street and the yen’s depreciation against the U.S. dollar, which benefits export-oriented companies.
Market Overview
Nikkei Stock Average: In the first 15 minutes of trading, the Nikkei rose by 209.14 points (0.53%) to 39,487.10.
Topix Index: The broader Topix index gained 12.67 points (0.47%), reaching 2,719.91.
Sector Performance
The top-tier Prime Market saw notable gains in sectors such as transportation equipment, rubber products, and insurance.
At 9 a.m., the exchange rate for the U.S. dollar was 149.16-17 yen, a slight decrease from 149.26-36 yen in New York and up from 148.55-57 yen in Tokyo at 5 p.m. on Wednesday.
The euro traded at $1.0941-0942 and 163.20-22 yen, compared to $1.0935-0945 and 163.28-38 yen in New York, as well as $1.0960-0961 and 162.82-86 yen in Tokyo late Wednesday afternoon.
Implications
The combination of a favorable external environment from Wall Street’s performance and a weaker yen appears to be supporting Tokyo’s market. Export-driven sectors are likely to continue benefiting from the yen’s decline, which may bolster overall investor sentiment in the region.
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