Tokyo stocks end higher as yen weakens-Xinhua

Tokyo stocks end higher as yen weakens

Source: Xinhua

Editor: huaxia

2023-09-25 16:40:30

TOKYO, Sept. 25 (Xinhua) -- Tokyo stocks closed higher on Monday, snapping days of losing streak, as the yen weakened to an 11-month low against the U.S. dollar.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average ended up 276.21 points, or 0.85 percent, from Friday to close the day at 32,678.62.

The broader Topix index finished 9.23 points, or 0.39 percent, higher at 2,385.50.

In Tokyo, the U.S. dollar rose to the mid-148 yen range, its highest since last November, amid expectations of a widening interest rate gap between Japan and the United States after the Bank of Japan maintained its ultraloose monetary policy.

Market watchers here noted that as the continued stance of monetary easing was reaffirmed, there was a reassessment and buying mainly of growth stocks on the Tokyo market such as semiconductors.

On the Prime market, gainers were led by pharmaceuticals, retail and food issues.

Issues that rose outpaced those that declined by 1,374 to 412, while 50 ended the day unchanged.