Tokyo stocks rise on buying of exporters-Xinhua

Tokyo stocks rise on buying of exporters

Source: Xinhua

Editor: huaxia

2024-06-10 16:00:30

TOKYO, June 10 (Xinhua) -- Tokyo stocks closed higher on Monday, as export-related issues were sought on the back of a weaker yen after solid U.S. employment data reduced prospects of an early interest rate cut.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 354.23 points, or 0.92 percent, from Friday at 39,038.16.

The broader Topix index, meanwhile, finished 27.46 points, or 1.00 percent, higher at 2,782.49.

The U.S. dollar rose to the lower 157-yen range in Tokyo amid expectations that the Federal Reserve will keep interest rates elevated for longer after the release of stronger-than-expected U.S. jobs data for May, analysts said.

Market watchers here noted investors snapped up automakers and other exporters set to benefit from the yen's depreciation.

On the top-tier Prime Market, gainers were led by insurance, oil and coal product, and warehousing and harbor transportation service shares.