Stronger Yen No Match For Japanese Stocks

Topix Index keeps soaring despite currency’s strength

Japanese stocks are soaring to levels unseen in a more than a quarter century, showing indifference to the yen’s strength. The Topix index has advanced 22 percent over the past 12 months, while Japan’s currency gained about 3 percent versus the dollar. “Even though the yen hasn’t weakened, the volume of Japanese exports to Asia and the U.S. has been increasing on a pick-up in global demand, which is improving Japanese corporate earnings,” said Toshio Sumitani, chief market analyst at Tokai Tokyo Research Institute Co. in Tokyo.

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