Tokyo - Stocks in
Tokyo climbed in Thursday morning trading following modest gains on
Wall Street as Japan's export-oriented issues were bolstered by a weaker yen. The benchmark Nikkei 225 Stock Average gained 94.24 points, or 0.89 per cent, to trade at 10,658.16. The broader Topix index was up 7.69 points, or 0.83 per cent, at 930.13.
Japan's
economy expanded at an annual pace of 3.8 per cent in the fourth quarter, revised down from a preliminary estimate of 4.6 per cent, the government said Thursday.
On
currency markets at 9 am (0000 GMT), the dollar traded at 90.49-50 yen, up from Wednesday's 5 pm quote of 89.99-90.01 yen.
The euro traded at 1.3643-3647 dollars, up from 1.3556-3558 dollars Wednesday, and at 123.45-48 yen, up from 121.99-122.03 yen.
Japanese exporters are a driving force for the nation's economy. A weaker
yen makes exports more competitive abroad and improves their overseas profits when the revenues are repatriated.
