Tokyo Stocks End Higher As Weaker Yen Lifts Exporters

Tokyo stocks end higher as weaker yen lifts exporters

TOKYO, (UrduPoint / Pakistan Point News - 25th Jun, 2024) Tokyo stocks closed higher on Tuesday, led by gains in auto and other export-related issues on the yen's recent declines.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 368.50 points, or 0.95 percent, from Monday at 39,173.15, its highest closing level since April 15.

The broader Topix index, meanwhile, finished 47.18 points, or 1.72 percent, higher at 2,787.37.

The U.S. Dollar briefly weakened to the lower 159 Yen range on Tuesday in Tokyo after the Currency neared the 160 yen threshold the previous day, the level perceived as where Japanese authorities could intervene, analysts said.

Market watchers here noted that the weaker yen continued to support export-related shares, including automaker Toyota Motor, which climbed 4.6 percent. A softer yen helps boost Japanese exporters' overseas earnings when repatriated.

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