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Stocks gain 2 per cent on weaker yen

Business Materials 25 April 2008 07:37 (UTC +04:00)

Tokyo stocks rose 2 per cent Friday as investors bought export-oriented issues on a weaker yen.

The Nikkei 225 Stock Average soared 271.03 points, or 2 per cent, to 13,811.9.

The broader Topix index of all first-section issues was also up 26.48 points, or 2.03 per cent, at 1,334.05.

Export-oriented issues were helped by the US dollar's rise against the yen as a weaker yen makes Japanese products cheaper abroad, the dpa reported.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 104.34-39 yen, up from Thursday's 5 pm quote of 103.69-72 yen.

The euro was quoted at 1.5675-77 dollars, down from Thursday's 5 pm quote of 1.5837-40 dollars, and at 163.55-60 yen, down from 164.25-29 yen.

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