Nikkei 225 Rises Most in Month, Halting 7-Day Drop on Weaker Yen
- Pause in yen gains gives boost to tech companies, automakers
- Adjustment of Fed rate-cut expectations also helping market
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Japanese stocks climbed, with the Nikkei 225 Stock Average gaining more than 3%, as a pause in the yen’s strengthening trend boosted exporters including technology companies and automakers.
The blue-chip gauge closed 3.4% higher, while the broader Topix gained 2.4%. Toyota Motor Corp. contributed the most to the Topix’s climb as the yen fell as much as 0.4% to 142.95 against the dollar. Banks including Mitsubishi UFJ Financial Group Inc. also rose after long-term Treasury yields gained.