Japanese stocks rise on weaker Yen, Asia gains

Japanese shares jumped Friday as market sentiment was buoyed by gains in other Asian bourses and the yen's fall against the dollar. The benchmark Nikkei 225 Stock Average gained 291.04 points, or 2.08 per cent, to end at 14,309.97 while the broader-based Topix index was up 17.87 points, or 1.53 per cent, at 1,188.58. By midafternoon in China, the Shanghai Composite Index had climbed 0.56 per cent and Hong Kong's Hang Seng Index had added 1.78 per cent. For the week, the Nikkei rose 4.63 per cent and the Topix gained 4.83 per cent. Exporters traded broadly higher as the yen fell against the dollar. A weaker yen makes Japanese goods more competitive overseas and improves repatriated revenues. On currency markets at 3 pm (0600 GMT), the dollar traded at 100.31-32 yen, up from Thursday's 5 pm quote of 99.71-72 yen. The euro was quoted at 129.36-38 yen, down from 129.53-57 yen late Thursday, and at 1.2895-2897 dollars, down from 1.2990-2991 dollars.