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Tokyo stocks end higher on cheaper yen

TOKYO
2024-06-24 16:28

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TOKYO, June 24 (Xinhua) -- Tokyo stocks closed higher on Monday as the yen's weakness against the U.S. dollar supported buying of a wide range of export-oriented issues.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 208.18 points, or 0.54 percent, from Friday at 38,804.65.

The broader Topix index, meanwhile, finished 15.50 points, or 0.57 percent, higher at 2,740.19.

The U.S. dollar briefly hit a two-month high close to the 160 yen line Monday in Tokyo. Against the backdrop of a weakening yen, auto-linked shares like Toyota rallied across the board, analysts said.

A weaker yen helps boost Japanese exporters' overseas earnings when repatriated and increases their competitiveness.

Among major shares in Tokyo, Toyota climbed 2.47 percent to 3,150 yen, and Honda gained 1.68 percent to 1,688 yen.
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