TOKYO: Japanese stocks rose, with the Topix index closing at its highest level since 2007, as a weaker yen boosted exporters.
TDK Corp., which gets more than 91 percent of revenue overseas, jumped 2.4 percent. Industrial-plant operator Chiyoda Corp. advanced 3.2 percent after winning a contract for an African natural-gas project. Stanley Electric Co. rose 2.8 and Klab Inc. added 2 percent after announcing share buybacks. Kamigumi Co. dropped 1.4 percent after a brokerage said the logistics firm may be removed from the JPX-Nikkei Index 400.
The Topix climbed 0.4 percent to 1,633.33 in Tokyo to close at its highest level since November 2007. The Nikkei 225 Stock Average advanced 0.7 percent to 20,026.38, closing above 20,000 for the first time since April 28. The yen traded at 119.96 per dollar after weakening the most in more than two weeks on speculation the U.S. economy will rebound from a sluggish first quarter.
