Sunday, December 8, 2013

Japan stocks rally on weaker yen

LOS ANGELES (MarketWatch) -- Japanese stocks jumped at the start of trading Monday, with exporters finding support as the yen weakened against the U.S. dollar and the euro. The Nikkei Stock Average (JP:NIK) climbed 270 points, or 1.8%, to 15,570, and the broader Topix scaled higher by 1.3%. The dollar pushed back above the ¥103 level after a better-than-expected U.S. jobs report for November, while the euro topped the ¥141 level for the first time since October 2008, according to FactSet data. Auto stocks were stronger, with Mazda Motor Corp. (JP:7261) (MZDAF) surging 3.2%, Nissan Motor Co. (JP:7201) (NSANY) up 2.2% and Toyota Motor Corp. (JP:7203) (TM) gaining 1.1%. Techs also benefited from yen weakness, with a 1.3% rise in shares of Sony Corp. (JP:6758) (SNE) , and bounce of 1.1% for stock in Canon Inc. (JP:7751) (CAJ) .

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