TOKYO: Tokyo stocks soared 0.67 percent on Thursday due to declining dollar against yen and ending of stimulus by US Federal Reserve.
The Nikkei 225 index at the Tokyo Stock Exchange climbed 104.29 points to 15,658.20, while the Topix index of all first-section issues was up 0.65 percent, or 8.26 points, at 1,278.90.
After a two-day meeting the US central bank’s policy committee said it would bring an end to six years of monetary easing as the economy gets back on track. It also said it would keep interest rates at record lows for “a considerable time” after the end of the bond-buying programme.
The greenback was up at 109.13 yen in Tokyo Thursday, up from 108.90 yen in New York, and sharply higher than the 108.12 yen in Tokyo earlier Wednesday. A weaker yen is a plus for shares of Japanese exporters as it makes them more competitive overseas and inflates repatriated income.
Nintendo shares rose 1.03 percent to 11,235.0 yen — after surging more than seven percent in earlier trade — after the videogame giant said first-half net profit jumped as a sharply weaker yen offset slowing sales.
Skymark Airlines dropped 6.39 percent to 205.0 yen after a report in the leading Nikkei business daily that said the struggling carrier was likely to post a net loss of more than 10 billion yen in its fiscal year to March.
