Tokyo stocks climb on weaker yen

TOKYO - Japanese shares rose in Monday morning trading as a weaker yen helped lift export-oriented issues.

The benchmark Nikkei 225 Stock Average gained 29.82 points, or 0.3 percent, to trade at 10,069.38. The broader Topix index was up 4.54 points, or 0.52 percent, at 871.35.

The yen weakened against the dollar, hovering around the lower-84 yen to the dollar. A weaker yen makes Japanese goods more competitive abroad and improves overseas earnings when the revenues are repatriated.

But investors were still casting wary eyes on the Korean Peninsula, where tensions were high after North Korea attacked on a South Korean island Tuesday followed by joint naval exercises by the US and South Korea, which started Sunday.

On currency markets at 9 a.m. (0000 GMT), the dollar traded at 84.17-21 yen, up from Friday’s 5 p.m. quote of 83.90-91 yen.

The euro traded at $1.3238-3243, down from $1.3255-3257 Friday, and at 111.42-49 yen, up from 111.21-25 yen.