The Business Times

Tokyo: Stocks open 0.69% higher

Published Thu, Nov 20, 2014 · 12:47 AM
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[TOKYO] Tokyo stocks opened 0.69 per cent higher on Thursday after the yen fell to multi-year lows against the dollar and euro in a boost to exporters.

The Nikkei 225 index at the Tokyo Stock Exchange gained 118.94 points to 17,407.69 at the start.

Official data released early Thursday showed Japan's trade deficit narrowed by more than a third year-on-year in October, helped by higher exports and lower oil prices.

That offered renewed hope that the yen's continued slide would boost Japan's sales of goods abroad and help power a flagging domestic economy.

The yen continued its downswing on Wednesday after Bank of Japan policymakers trimmed their inflation expectations while holding off on fresh easing measures.

The dollar rose to 118.07 yen early Thursday from 118.01 yen in New York Wednesday afternoon, hovering around its highest level since August 2007.

The euro bought 148.13 yen against 148.11 yen in US trade, the highest level since October 2008.

On Wall Street the Dow Jones Industrial Average slipped 0.01 per cent while the tech-rich Nasdaq fell 0.6 per cent as Netflix and Tesla Motors stumbled.


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