Japanese stocks were up today (November 20th) as a weak yen lifted sentiment and led investors to buy exporters' shares.
"A huge chunk of Japanese corporate profits come from overseas, and with the weak yen, investors are rushing to buy today," Takashi Hiroki, chief strategist at Monex Inc. in Tokyo, told Reuters.
The yen traded at 118.20 against the dollar, close to a seven-year low. The benchmark Nikkei average edged up 0.07 per cent to finish at 17,300.86, while the broader Topix index rose 0.08 per cent to finish at 1,397.64.
Investors were also concerned with uncertainty over the US Federal Reserve policy on interest rates and disappointing factory data out of China.
The Fed released the minutes of its October policy meeting yesterday, which showed no consensus regarding what to say about the pace of interest-rate increases.
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