apan’s Nikkei share index hit yet another 15-year high on Tuesday after rising for the fifth day in a row.
The move came as the yen weakened against the dollar amid speculation about what US Federal Reserve chair Janet Yellen might say regarding rate rises in the US later in the day.
Tokyo’s benchmark Nikkei 225 closed up 0.74% at 18,603.48.
A weaker yen helps big exporting firms in Japan because it makes their goods cheaper overseas.
The dollar rose to 119.22 yen compared with 118.76 yen in New York trading.
Shares in Hitachi fell 0.8% following reports that the company was about to buy the rail business from Italy’s Finmeccanica. The deal was confirmed after the market had closed.
In Hong Kong, the Hang Seng index closed down 0.35% at 24,750.07. Markets in the rest of China continued to remain shut for the Chinese New Year holidays.
via BBC
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.