Nikkei rises supported by weaker yen, ends two weeks of losses

Japanese Nikkei index achieved gains on Friday, supported by the cessation of the yen’s rise, which was affecting the earnings expectations of exporting companies.

According to Reuters, the Nikkei ended Friday’s session up 0.87% to 32,970.55, recording a weekly gain of 2.05%, ending a series of losses for two consecutive weeks.

The index reached a high level at 33,122.33 earlier in the session, but lost momentum in afternoon trading, and did not succeed in staying above the 33,000 level.

The broader Topix index advanced 0.47%, achieving a weekly increase of 0.34%.

Shares of automakers benefited from the cessation of the yen’s rise, as Toyota shares rose 1.13%, Nissan shares gained 2.94%, and Subaru shares jumped 4.51%.

The shipping sector was the best performing among the 33 sectoral indices on the Tokyo Stock Exchange, rising 6.24 percent.

Of the 225 stocks on the Nikkei index, 134 stocks rose while 91 declined.

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