Japanese stocks gained ground in morning trading Wednesday, following rises on Wall Street. The benchmark Nikkei 225 Stock Average gained 49.44 points, or 0.5 per cent to trade at 9,868.2, while the broader Topix index was up 3.36 points, or 0.39 per cent to 859.82.
The rises were also buoyed by the yen declining against other currencies. A weaker yen makes Japanese goods cheaper overseas and increases repatriated earnings. On currency markets at 9 am (0000 GMT), the dollar traded at 80.96—81.00 yen, down from Tuesday’s 5 pm quote of 80.8-82 yen.
The euro traded at 1.4400—01 dollars, up from 1.4361-63 dollars Tuesday, and at 116.59-63 yen, up from 116.04—08 yen.
