By Brad Frischkorn TOKYO--Tokyo stocks rose Monday as a stronger dollar helped exporter shares to rise while positive reactions to key earnings reports for such names as Citizen Holdings and Credit Saison helped keep the major indexes afloat. Analysts remain skeptical that the beneficial currency effect will be long-lasting, however, pointing to impending business results from Japan's largest banks as key to maintaining investor sentiment. The Nikkei Stock Average added 183.04 points, or 1.3% at 14,269.84 following Friday's 1.0% slide. The Topix index of all the Tokyo Stock Exchange First Section issues also added 9.23 points, or 0.8%, to 1,185.65, with 22 of 33 subindexes ending in positive territory. Participation levels continued to look rather tepid, as 2.2 billion shares worth only Y1.71 trillion changed hands. Stocks surged at the open, after Wall Street bourses were bid higher Friday on the back of better-than-expected jobs data, while traders shrugged off the risk the Federal Reserve may start reducing its bond-buying program as early as next month. The dollar consolidated most of its early gains, and was seen at Y98.99 as of the TSE close at 0600 GMT after peaking well above the Y99 mark earlier. "The dollar's movement seems more speculative than anything else, and there are no signs that it will continue to advance through the Y100 mark for the time being," said Tachibana Securities market adviser Kenichi Hirano, noting that yields on U.S. Treasury 10-year notes remain at a relatively benign level. "The real yen-weakening story will resume once reliable data come in showing an unmistakeable U.S. economic recovery," he said. Earnings figures are the focus for now, with contractors and big banks reporting this week, he added. Reactions to select results reported Friday after the market close had some market-moving influence. Watch and device maker Citizen Holdings closed up 7.1% to Y722 after logging a first half operating profit of Y9.5 billion, better than guidance of Y8.0 billion. It also raised its full-year projections for operating profit to Y21.0 billion from Y19.5 billion. Consumer lender Credit Saison also gained 4.0% to Y2,618 after booking a second quarter pretax profit of Y27.3 billion, beating its own guidance and accounting for 53% of full-year guidance. Yokogawa Electric added 6.4% to Y1,328 after its first half operating profit of Y11.0 billion beat its guidance of Y9.5 billion and it, too, raised its full-year estimate to Y25.5 billion--up from Y24.0 billion. On the negative side, Olympus slipped 2.3% to Y3,000 after the firm's raised full year operating profit guidance of Y72.5 billion still missed the street consensus of Y77.4 billion. Yokohama Rubber also surrendered 3.6% to Y911 after its nine-month term operating profit of Y29.9 billion represented only 51% of its fiscal year guidance, portending a looming yearly earnings miss, according to analysts. Currency-sensitive exporters were generally higher, with Toyota Motor adding 0.8% to Y6,250 and Tokyo Electron up 2.4% to Y5,440. December Nikkei 225 futures closed up 190 points, or 1.3%, at 14,280 on the Osaka Securities Exchange.

Source