Nikkei 225 Enters Bull Market After Rising 20% From June Low
- Topix index advances for seventh day as yen extends declines
- Increasing odds of Fed rate increase are weakening the yen
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Shares in Tokyo climbed into a bull market, as a sustained pullback in the yen against the dollar helped investors regain confidence in equity returns for export-reliant Japan.
The Nikkei 225 Stock Average advanced on Friday, bringing its gain from a June 24 low to 20 percent and meeting the common definition of a bull market. The broader Topix rose for a seventh day to mark its longest such streak since August 2015. The gauge is still more than five points away from reaching the 20 percent threshold. The yen lost 0.5 percent against the greenback, extending its decline against the dollar to 5.3 percent for this month, its steepest such slide in two years.