AFP: Japanese shares climb on weaker yen, Asia gains
Tokyo - Japanese stocks rose Friday after five days of decline, bolstered by gains in Asian markets and as a weaker yen helped improve investor sentiment.
The benchmark Nikkei 225 Stock Average gained 40.87 points, or 0.44 per cent, to close at 9,253.46 while the broader Topix index was up 3.46 points, or 0.42 per cent, at 831.24.
Tokyo stocks opened lower as concerns about the US economic recovery grew following an overnight fall on Wall Street. The Nikkei rebounded in the afternoon on a weaker yen and gains in major Asian markets.
US stocks fell for a third straight day Thursday on fresh economic concerns fuelled by an unexpected rise in weekly claims for jobless benefits and a disappointing sales forecast from bellwether company Cisco Systems Inc.
For the week, the Nikkei was down 4.03 per cent while the Topix was down 3.48 per cent.
On currency markets at 3 pm (0600 GMT), the dollar traded at 86.08-11 yen, up from Thursday's 5 pm quote of 85.70-72 yen.
The euro traded at 1.2885-2888 dollars, down from 1.2924-2925 dollars Thursday, and at 110.91-94 yen, up from 110.76-80 yen.
A weaker yen makes Japanese exports more competitive and improves overseas earnings when the revenues are repatriated.