Asian stocks climb up backed by greenback
On Thursday, Asian shares mostly ascended, tracking a strong close in the American equity market and solid American economic data, which saw the Japanese yen weaken.
The Nikkei Stock Average rose 0.7%, as the Japanese yen softened against the greenback, thus backing local exporters. At the same time, the S&P ASX 200 rose 0.3%, the Hang Seng Index leapt 0.5%, while Korean Kospi acquired 0.3%. Chinese markets are closed for the Golden Week holiday.
In the beginning of Tokyo share trading, the Japanese yen weakened approximately 0.1% against the greenback. It’s currently flat to the US dollar.
The weaker Japanese yen backed local exporters, with car makers ascending. These are Mazda Motor with its 3.7% rise, Toyota Motor with its 1.4% growth and Nissan, which tacked on 0.7%.
The stock prices of Japanese banks improved too as fears regarding Deutsche Bank’s health kept subsiding. The Topix bank subsection extended revenues for the fourth trading session in a row.