Tokyo stocks closed higher Friday as a cheaper yen gave a boost to exporters but traders said they would be keeping a close eye on geopolitics in the coming days.
The benchmark Nikkei 225 index gained 0.40 percent, or 91.99 points, to 22,930.36, marking a weekly gain of 0.76 percent.
The broader Topix index was up 0.38 percent, or 6.88 points, at 1,815.25. Over the week, it advanced 1.13 percent.
“The dollar’s rise into the upper half of the 110 yen range gives a sense of relief” to investors, Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.
The dollar rose to 110.86 yen from 110.76 yen in New York Thursday afternoon and 110.28 yen in Tokyo earlier.
A lower yen is positive for Japanese exporters as it inflates their earnings when repatriated.
“We need to…
Read More…..Guardian Newspapers
