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Home International Markets

Tokyo stocks open higher, Nikkei 225 surges 0.71pc

byCustoms Today Report
22/04/2015
in International Markets
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TOKYO: Tokyo stocks have opened higher as a weaker yen boosted exporter shares with the benchmark index jumping back above the psychologically key 20,000 mark.

The Nikkei 225 index at the Tokyo Stock Exchange gained 0.71 per cent, or 140.94 points, to 20,050.03 in the first 30 minutes of trade on Wednesday.

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The benchmark last closed above 20,000 about 15 years ago.

On forex markets, the dollar was at 119.71 yen early Wednesday against 119.63 yen in New York and 119.44 yen in Tokyo earlier on Tuesday.

The euro slipped to $1.0725 and 128.40 yen against $1.0735 and 128.42 yen in US trade.

A weaker yen is positive for Japanese exporters as it makes them more competitive abroad and inflates the value of their repatriated profits.

Shortly before markets opened, fresh data showed Japan posted its first trade surplus in nearly three years in March as import bills fell owing to tumbling oil prices while the value of exports to North America soared.

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