Japan Stocks Climb to Highest Since May as Yen Boosts Exporters
- Yen falls against dollar after strong U.S. manufacturing data
- JR Kyushu debuts on the Tokyo exchange after $4 billion IPO
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Japanese shares rose to an almost five-month high as the yen weakened against the dollar, boosting the outlook for exporters’ profits at the start of the corporate earnings season.
The Topix index gained for a second day, closing at the highest since May 31, as the Japanese currency weakened after a U.S. index of manufacturers bolstered the case for higher U.S. interest rates this year. Investors are sifting through earnings to gauge the health of Japanese firms, with more than 350 companies on the Topix set to report this week. Precision-motor maker Nidec Corp. raised its full-year net-income target on Monday, beating analyst estimates.