22.04.201301:30:13UTC+00Japan stocks boost as weak yen push exporters forward

Japanese stocks push forward on Monday action, as exporters bolster from weakening yen. The Nikkei Stock Average gained 1.7% to 13,537 at the open as all active components advanced. The Topix index surged 2% to 1,149.26 in the opening minutes. Exporters Olympus Corp. and Nissan Motor Corp. were the top performers on the Nikkei Average, boosting 5.2% and 3.9%, respectively. The U.S. dollar made another run higher toward the ¥100 level after the said Japan's recent financial-policy actions are focused at beating deflation and supporting domestic demand. Shares of Kawasaki Heavy Industries Ltd. and Mitsui Engineering & Shipbuilding Co. were each halted following a report by business daily Nikkei that the companies will begin merger talks. The deal could create a heavy-machinery entity with about 2 trillion yen ($20.03 billion) in sales. Meanwhile, shares of Astellas Pharma Inc. upgraded 1.3% as the company likely booked a 14% development in consolidated managing profit to more than 150 billion yen for the year ended March 31, a better-than-expected result, according to a Nikkei report.