Japanese stocks soared in Friday morning trading following an overnight rally on Wall Street as high-tech shares and export-oriented issues were bolstered by a weaker yen. The Nikkei 225 Stock Average gained 190.41 points, or 2 per cent, to trade at 9733.06 while the broader Topix index was up 12.72 points, or 1.48 per cent, at 869.51. On currency markets at 9 am (0000 GMT), the dollar traded at 91.46—47 yen, up from Thursday’s 5 pm quote of 90.92—93 yen in Tokyo.
The euro traded at 1.2130—2132 dollars, up from 1.2011—2012 dollars Thursday, and at 110.93—98 yen, up from 109.21—25 yen. A weaker yen makes Japanese exports more competitive and improves overseas earnings when the revenues are repatriated.
