14.08.201405:58:30UTC+00Japanese stocks on four-day rise on weak yen, strong exports

Japanese stocks gained in the trading session lifted by higher US stocks and weaker yen that’s bolstering exporters.

The Topix Index gained 0.17% to 1,270.50 at the closing in Tokyo. 28 out of the gauge’s 33 industry groups posted increases. The index witnessed a trading volumes that were 9.8% lower than the 30-day average. As a whole for the week, the index has already added 3.4% and is still set for further increase that might just be its largest rise since April. The Nikkei 225 Stock Average climbed 0.7% to 15,314.57 while the yen fell by 0.2% to 102.59 per one dollar. This is an extended decrease as the currency already lost 2% in the previous day.

One of Japan’s largest company, Sony Corp. gained 1.1% while Obayashi Corp. added 3% following reports that its general contractor made robots that are capable of checking building excavation work. Aiful Corp. plunged by 13% due to its poor performance that yielded a 71% quarterly loss.

Executive officer at Ichiyoshi Asset Management Co., Mitsushige Akino, commented to Bloomberg that the overseas selloff has finally calmed down with the yen weakening by a few points. Akino adds that if the market participants focused on the medium-term direction of Japanese and US monetary policies, the depreciation of the yen is not at all surprising.

Recent risk events included the Federal Reserve’s discussion to prolong the raising of interest rates following a slower US sales report.