Nikkei rallies, supported by exporters as weaker yen boosts sentiment
Japanese investors recovered from the news of falling Chinese exports in December and focused on positive factors
Tokyo — Japan’s Nikkei rose to a three-and-a-half-week high in choppy trade on Tuesday morning, supported by buying of electronic component makers and other exporters as a weaker yen boosted sentiment, offsetting concerns about poor China December trade data. The Nikkei share average gained 0.9% to 20,544.64 at the midday break, its highest level since December 20. Soon after Tuesday’s opening, the index was down 0.5%. China’s December exports unexpectedly fell the most in two years and imports contracted from a year earlier, official data showed on Monday. The data dented shares in many markets on Monday, when Japan was closed for a holiday. But on Tuesday, analysts said that investors in Japan focused on positive factors such as the weaker yen and bought back shares of exporters, which had fallen in the past few weeks. The yen weakened 0.24% to be ¥108.46 to the dollar. “Investors are relieved that the dollar-yen seems stable now,” said Nobuhiko Kuramochi, a strategist at Mizuho S...
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