Tokyo shares close 0.44pc higher

AFP, TOKYO: Tokyo stocks rose 0.44 per cent yesterday as a weakening yen boosted exporters while falling oil prices lifted Japanese airlines.
The Nikkei 225 index at the Tokyo Stock Exchange added 90.28 points to end at 20,683.95, while the Topix index of all first-section shares climbed 0.57 per cent, or 9.51 points, to 1,664.88.
On currency markets, the greenback resumed its rise against the yen after a strong batch of US housing data bolstered the case for the Federal Reserve to hike interest rates.
The dollar rose to 124.07 yen from 123.96 yen in New York Wednesday.
Official figures showed sales of existing homes in the US surged in June to their highest level in more than eight years and prices hit a record high.
“It’s not determined yet whether the US rate hikes will be in September or December, but the housing data strengthens the case for a September hike a little,” Mitsushige Akino, executive officer at Ichiyoshi Asset, told Bloomberg News.
Oil prices fell Wednesday after US government data showed higher crude stockpiles.

Tokyo shares close 0.44pc higher

AFP, TOKYO: Tokyo stocks rose 0.44 per cent yesterday as a weakening yen boosted exporters while falling oil prices lifted Japanese airlines. The Nikkei 225 index at the Tokyo Stock Exchange added 90.28 points to end at 20,683.95, while the Topix index of all first-section shares climbed 0.57 per cent, or 9.51 points, to 1,664.88. On currency markets, the greenback resumed its rise against the yen after a strong batch of US housing data bolstered the case for the Federal Reserve to hike interest rates. The dollar rose to 124.07 yen from 123.96 yen in New York Wednesday. Official figures showed sales of existing homes in the US surged in June to their highest level in more than eight years and prices hit a record high. Its not determined yet whether the US rate hikes will be in September or December, but the housing data strengthens the case for a September hike a little, Mitsushige Akino, executive officer at Ichiyoshi Asset, told Bloomberg News. Oil prices fell Wednesday after US government data showed higher crude stockpiles.