Japan’s Nikkei share average gained 0.7% to 19, 404.75 during midday trading and is poised to log its ninth day of rally after being lifted by strong U.S. shares and as the weak Japanese currency continued to elevate overall market sentiment.
The greenback firmed against the yen at 118.33 yen after jumping as high as 1.4% to 118.66 yen, a high not seen since February.
The benchmark index has advanced 2.2% for the week and is anticipated to notch its sixth week of gains.
Out of the Topix’s 33 subsectors, 28 rose as banking stocks attracted buying. The broader Topix added 0.5% to 1,550.15. Meanwhile, the JPX-Nikkei Index 400 also added 0.6% to 13, 880.60.
Exporters, who were the biggest benefactors on the weak yen, had mixed results due to investors’ cautiousness regarding their steep rise in the previous month. Nintendo plunged over 5% after investors predicted that the stock has already weighed in the news of the Super Mario Bros app launch on Apple’s iPhone.
The material has been provided by InstaForex Company – www.instaforex.com