Japan shares rise on yen weakness

Japanese stocks rose sharply Tuesday for the second consecutive day as export-linked issues were bolstered by the yen’s fall against major currencies. The benchmark Nikkei 225 Stock Average gained 318.84 points, or 2.23 %, to end at 14,588.68 while the broader-based Topix index was up 19.76 points, or 1.67 %, at 1,205.41. On currency markets at 3 pm (0600 GMT), the dollar traded at 99.55-56 yen, up from Monday’s 5 pm quote of 98.96-97 yen. The euro was quoted at 133.27-28 yen, up from 132.35-39 yen late Monday and at 1.3386-3388 dollars, up from 1.3373-3375 dollars. A weaker yen makes Japanese goods more competitive abroad and improves repatriated revenues.