Japanese shares have climbed past the 15,000 mark for the first time since January 2008, as the yen continues to weaken – boosting the earnings potential for exporters.
On Wednesday, the benchmark Nikkei index rose 2.3% to 15,096, with carmaker Toyota and electronics giant Sony leading the gains.
The Nikkei is up 46% since the start of 2013.
Japan’s central bank has embarked on an aggressive plan to weaken the yen.
A weaker Japanese currency translates into higher earnings for companies when the funds are repatriated back into the country. It also makes their products more competitive overseas.
The yen is at a four-and-a-half year low against the US dollar, trading at about the 102 mark in Asia.
via BBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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