Tokyo stocks rose as investors bought export-related firms due to weaker yen, following stronger US employment data.
Tokyo stocks rose on Monday as a result of investors buying export-related companies, such as automakers, due to the weaker yen. This decline in the yen's value followed stronger-than-expected U.S. employment data, lowering the possibility of an early interest rate cut in the United States. Japan's benchmark Nikkei Stock Average ended the day 354.23 points, or 0.92%, higher at 39,038.16, while the broader Topix index finished 27.46 points, or 1.00%, higher at 2,782.49. The U.S. dollar strengthened against the yen, reaching the lower 157-yen range in Tokyo.
June 10, 2024
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