Japan's Nikkei rises on Wall Street strength, weaker yen
07/11/2024 24:25
TOKYO, Nov 7 (Reuters) - Japan's Nikkei share average
traded higher on Thursday, tracking Wall Street's strong finish
overnight, with sentiment lifted by a weaker yen.
The Nikkei .N225 was up 0.93% at 39,847.15 as of 0007 GMT,
while the broader Topix .TOPX jumped 1.66% to 2,761.13.
U.S. stocks rallied sharply to close at record highs on
Wednesday after Republican Donald Trump won the 2024 U.S.
presidential election in a stunning comeback four years after
being voted out of the White House.
The U.S. dollar soared to a four-month high on Wednesday
after Trump's win. The dollar was last flat 1.X% at 154.6
JPY=EBS .
A weaker yen tends to boost Japanese exporters' overseas
earnings when repatriated.
Chip-testing equipment maker Advantest 6857.T rose 1.14%
to give the biggest boost to the Nikkei.
Home interior goods maker and retailer Nitori Holdings
9843.T , which imports most of its materials from overseas,
fell 4.84% to weigh on the Nikkei the most.
Banking shares rose, with Sumitomo Mitsui Financial Group
8316.T up 6.08% and Mitsubishi UFJ Financial Group 8306.T
rising 4.9%.
(Reporting by Junko Fujita; editing by Alan Barona)
((junko.fujita@thomsonreuters.com))