Japanese stocks up on weaker yen

Japanese shares rose Tuesday morning as the yen’s fall against the euro helped boost investor sentiment.

The benchmark Nikkei 225 Stock Average gained 91.86 points, or 0.93 per cent, to trade at 9,981.72 at the end of the morning session at 11:30 am (0230 GMT).

The broader Topix index was up 5.73 points, or 0.68 per cent, at 851.01.

The yen declined against the euro, hovering around the lower-108 yen range to the European currency. A weaker yen makes Japanese goods less expensive overseas and improves repatriated revenues.

Investors were cautious ahead of the Bank of Japan’s announcement after its two-day monetary policy meeting, which was to end later in the day.

On currency markets at 11:30 am, the dollar traded at 82.22-24 yen, almost unchanged from Monday’s 5 pm quote of 82.22-23 yen.

The euro was quoted at 108.37-40 yen, up from 107.78-82 yen late Monday, and at 1.3181-3185 dollars, up from 1.3109-3110 dollars.