Japan stocks rise
By DPA, IANSTuesday, December 28, 2010
TOKYO - Japanese shares were up in Wednesday morning trading, after an opening dip.
The benchmark Nikkei 225 Stock Average gained 17.31 points, or 0.17 percent, to trade at 10,309.94 while the broader Topix index was up 1.68 points or 0.19 percent to 904.51.
The markets dropped as the markets opened as the yen gained strength, but rallied as investors expected capital flows to pick up following monetary easing around the world, traders said.
A stronger yen makes Japanese exports less competitive abroad, and erodes overseas earnings when they are repatriated.
On currency markets at 9 a.m. (0000 GMT), the dollar traded at 82.36-38 yen, down from Tuesday’s 5 p.m. quote of 82.41-43 yen.
The euro traded at $1.3084-86, down from $1.3212-14, and at 107.77-79 yen, down from 108.88-92 yen.
