Exporters, shipping lines and realty companies led gainers in Tokyo trading. Yen drifted lower and reached nearly 100 yen against a dollar. The G-20 commitment to finance and back international trade lifted stocks in Asia and in India. Japan pension investment fund projects net cash outflow.
Japan stock indexes gained on hopes that the global economy will rebound as the G-20 members committed to injecting $1 trillion into the financial system in order to boost growth. The focus on reviving international trade and Japan and China committing $250 billion to IMF and having a greater say how IMF is run also boosted stocks linked to the international markets.
Investor sentiment was also strengthened by a weaker yen, which eased to 99.90 against the dollar. Exporters, shipping lines and realty companies led the gainers in Tokyo trading.
In Tokyo trading Nikkei 225 edged up 0.3% or 30.06 to 8,749.84, rising 1.4% for the week, and the broader Topix Index increased 0.6% or 4.67 to 831.36, gaining 0.8% for the week.
In the first section of the Tokyo Stock Exchange 28.4 billion shares worth 1.8 trillion yen were traded and in the second section 275 million shares valued at 2.5 billion yen changed hands.
Of the Nikkei 225 index stocks, 106 rose, 109 dropped, and 10 were unchanged. Kawasaki Kisen led gainers in the index shares with a rise of 9.7% followed by NSK Ltd of 9.5%.
