Tokyo stocks rose on Thursday, driving a key index to reach the highest closing level in more than seven years, on overnight gains on the yen's depreciation against the US dollar and positive economic data.
The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) advanced 327.04 points, or 1.85 percent, from Tuesday to 17,979.72, the highest close since July 24, 2007.
The broader Tokyo Stock Price Index, which includes all First Section issues on the TSE, also gained 21.67 points, or 1.52 percent, to 1,449.39, with 29 of 33 subindexes ending in positive territory. Japanese financial markets were closed Wednesday for a national holiday.
The yen's depreciation against the US dollar prompted Japanese investors to buy export-oriented issues in Tokyo. At 5 p.m. (0800 GMT), the dollar fetched JPY 120.23-28 against JPY 120.42-52 in New York at 5 p.m. Wednesday. Strong economic data also pushed up stocks. Earlier in the day, the he Cabinet Office said Japan's core machinery orders jumped 8.3 percent in December from the previous month.