Tokyo stocks end at six-year high

By AAP

In currency trading, the US dollar held steady after rallying against the yen in New York, but gains were capped as weak home sales data offset figures showing unemployment insurance benefit claims at an eight-year low.

Currency rates hardly moved after Japan said on Friday morning that June inflation eased slightly to 3. 3 per cent. In Tokyo, Sony rose 2. 81 per cent to Y1,791. 5 and Toyota was up 0. 60 per cent at Y6,107. 0.

Trading giant Itochu rose 2. 50 per cent to Y1,348. 0 after announcing late on Thursday that Thailand's Charoen Pokphand Group could buy a 4. 9 per cent stake in it for $US1. 0 billion ($A1. 08 billion).

The benchmark Nikkei 225 index on Friday added 173. 45 points to 15,457. 87, its best finish since late January, while the Topix index of all first-section issues rose 0. 90 per cent, or 11. 49 points, to 1,281. 35.

Tokyo stocks have risen 1. 13 per cent to close at a six-month high after a sharp decline in US jobless claims boosted the US dollar against the yen, sending exporter shares higher.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Read more here: Business Spectator

    

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