Tokyo Stocks Close Higher After Upbeat US, China Data

TOKYO, , (APP - UrduPoint / Pakistan Point News - 10th Jul, 2017 ) - Tokyo stocks closed higher Monday as upbeat US and Chinese data buoyed investor sentiment, while a weaker Yen lifted exporters. The market rallied on a strong lead from Wall Street after the US Labor Department said the world's top economy created almost 50,000 more jobs than expected in June, reinforcing the view that it is back on track.

On Monday, fresh data showed China's factory gate prices stabilised in June after slowing for three straight months.

Also, Bank of Japan governor Haruhiko Kuroda said Monday that the economy is turning to a gradual expansion but stressed policymakers will keep the current easing programme until it achieves its two percent inflation target.

His comments weighed on the yen, which is good news for Japanese shares as a cheap Currency boosts exporters' profitability. The Dollar firmed to 114.21 yen from 113.91 yen in New York and 113.73 yen in Tokyo earlier Friday.