AP: Japan's Nikkei stock index slightly up on yen dip
Japan's key stock index rose slightly Monday as investors welcomed a dip in the yen, lifting electronics companies, automakers and other exporters
The Nikkei 225 stock index added 26.70 points, or 0.3 percent, to close at 8,256.85 points.
"A weaker yen inspired a sense of relief, prompting buying of electronics, autos and high-tech issues," said Mitsushige Akino, fund manager at Ichiyoshi Investment Management.
He said Monday's gain was also driven by positive sentiment ahead of President-elect Barack Obama's inauguration on Tuesday, with hopes that his new administration will act boldly to revive the ailing U.S economy. The U.S. is a major export market for Japan.
But gains were capped by growing expectations of bleak fourth quarter results from U.S. companies.
The broader Topix index was flat at 817.73 points.
Japan's top automaker Toyota Motor Corp. closed up 0.7 percent, Honda Motor Co. rose 4 percent and Sony Corp. added 0.2 percent.
Toshiba Corp. jumped 6.5 percent amid reports it had won contracts to supply equipment for two nuclear plants being built in the U.S.
The dollar was trading at 90.60 yen in Asia late Monday, down from 90.67 yen late Friday in New York, after retreating from above 90.80 yen earlier in the day.