Japanese Stocks Rally as Exporters Advance on Yen’s Retreat
Shigeru Ishiba, Japan’s prime minister, during a news conference in Tokyo on Oct. 1.
Photographer: Yuichi Yamazaki/AFP/Bloomberg
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Japanese stocks rallied as the yen extended losses on the new prime minister’s comment that the economy isn’t ready for another interest-rate hike.
The Nikkei 225 Stock Average jumped 2%, while the benchmark Topix Index climbed 1.2%. Exporters such as tech companies provided the biggest boost to the market as the yen declined to as far as 147.24 against the dollar, after tumbling 2% overnight.