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Japanese stocks rise on weaker yen

Other News Materials 28 July 2010 07:58 (UTC +04:00)
Japanese shares rose in Wednesday morning trading boosted by a weaker yen, dpa reported.
Japanese stocks rise on weaker yen

Japanese shares rose in Wednesday morning trading boosted by a weaker yen, dpa reported.

The benchmark Nikkei 225 Stock Average gained 178.62 points, or 1.88 per cent, to trade at 9,675.47 while the broader Topix index was up 14.01 points, or 1.66 per cent, at 860.13.

On currency markets at 9 am (0000 GMT), the dollar traded at 87.76-78 yen, up from Tuesday's 5 pm quote of 87.24-25 yen.

The euro traded at 1.2988-89 dollars, up slightly from 1.2982-83 dollars Tuesday, and at 113.99-114,00 yen, up from 113.26-30 yen.

A weaker yen makes Japanese exports more competitive and improves overseas earnings when the revenues are repatriated.

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