Japanese stocks jump on weaker yen, US gains

Japanese stocks rose strongly in Friday morning trading after US stocks went up overnight and as the yen fell to near a four-month low, boosting the economy's key exporters, according to dpa. The benchmark Nikkei 225 Stock Average gained 166.79 points, or 1.81 per cent, to trade at 9,404.89 at the end of the morning session at 11:30 am (0230 GMT), its highest midday point for six months. The broader Topix index was up 11.41 points, or 1.43 per cent, at 811.66. A weaker yen makes exports more competitive overseas, and improves earnings when they are repatriated. Overnight in the United States, a key market for Japan's exporters, the Dow Jones Industrial Average rose 0.96 per cent, while the Standard & Poor's 500 Index gained 1.10 per cent, and the Nasdaq grew 1.51 per cent, on optimism over Greece's debt crisis. On currency markets at 11:30 am, the dollar traded at 79.06-08 yen, up from Thursday's 5 pm quote of 78.62-63 yen. The euro was quoted at 103.79-82 yen, down from 102.37-41 yen late Thursday, and at 1.3130-32 dollars, down from 1.3021-22 dollars.