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Tokyo stocks end slightly higher as autos rise on weak yen
MAINICHI
| Desember 25, 2024
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TOKYO (Kyodo) -- Tokyo stocks ended slightly higher Wednesday as a weaker yen lifted export-oriented automakers amid slow trading due to the Christmas holiday overseas.
The 225-issue Nikkei Stock Average ended up 93.58 points, or 0.24 percent, from Tuesday at 39,130.43. The broader Topix index finished 6.60 points, or 0.24 percent, higher at 2,733.86.
On the top-tier Prime Market, gainers were led by transportation equipment and nonferrous metal, iron and steel issues.
The U.S. dollar climbed briefly to the mid-157 yen range in Tokyo as investors bought the currency to adjust their positions, dealers said.
At 5 p.m., the dollar fetched 157.00-30 yen compared with 156.95-157.05 yen in New York and 157.14-15 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $1.0393-0410 and 163.45-49 yen against $1.0384-0394 and 163.01-11 yen in New York and $1.0390-0392 and 163.27-31 yen in Tokyo late Tuesday afternoon.
The yield on the benchmark 10-year Japanese government bond ended at 1.065 percent, unchanged from its close on Tuesday on limited price movements with fewer market participants.
The Nikkei stock index was initially higher as buying was supported by overnight advances on Wall Street but soon turned lower as investors mostly sat on the sidelines, brokers said.
But the market regained momentum toward the close of trading in tandem with the yen's decline.
Meanwhile, a speech by Bank of Japan Governor Kazuo Ueda had limited impact on the market as it offered little new information, said Maki Sawada, a strategist in Nomura Securities Co.'s Investment Content Department.
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