Tokyo stocks rose for the fourth trading day on Friday, driving a key index to reach the highest closing level in more than seven years, on overnight gains on Wall Streets and the yen's depreciation against the US dollar.
The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) advanced 98.04 points, or 0.56 percent, from Thursday to 17,490.83, the highest close since July 26, 2007. The broader Tokyo Stock Price Index, which includes all First Section issues on the TSE, also gained 10.90 points, or 0.78 percent, to 1,400.41, with 32 of 33 subindexes ending in positive territory.
On Thursday, the Dow Jones industrial average and The S&P 500 Index closed higher. The yen's depreciation against the US dollar also prompted Japanese investors to buy export-oriented issues in Tokyo. In the currency market, at 3:45 p.m. (0645 GMT), the dollar fetched JPY 116.23-26 against JPY 115.72-82 in New York and JPY 115.78-79 in Tokyo at 5 p.m. Thursday.