Japan Equities Higher as Yen Weakens

Japanese shares rose, with the Topix (TPX) index rallying from its biggest drop in seven weeks, as exporters climbed on a weaker yen after strong U.S. economic data.

Toyota Motor Corp., the world’s biggest carmaker by market value, gained 0.3 percent. IHI Corp., which makes jet engines, added 1.6 percent after a report the Development Bank of Japan will provide 100 billion yen ($914 million) in loans for local aircraft makers. Supermarket operator Aeon Co. slumped 1.5 percent after a report its first-half operating profit probably dropped 40 percent.

The Topix gained 0.4 percent to 1,337.05 at the trading break in Tokyo, with about five shares rising for every three that fell. The measure dropped 1.1 percent on Sept. 26, the most since Aug. 8. The Nikkei 225 Stock Average added 0.4 percent to 16,299.94 today. The yen weakened 0.1 percent to 109.41 per dollar after declining 0.5 percent on Sept. 26.

Bloomberg

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.