Nikkei up on weaker yen and oil price fall

<p>Japan’s stocks were at their highest level for two weeks.</p>

Japan's stocks ended at their highest level for two weeks, boosted by a weaker yen and falling oil prices.

The Nikkei 225 closed 1.2 per cent up at 17,459.85, while the Topix climbed 1.32 per cent to 1,410.34.

Exporters' shares rose as the dollar went above 118 yen. Falling oil prices and the prospect of cheaper fuel also pushed Japan Airlines' shares up 5.3 per cent, while All Nippon Airways rose 7.4 per cent.

Investors also welcomed from better-than-expected domestic industrial production data for October released just before the opening bell.

They also received various economic data from Japan, which painted a mixed picture of the economy, with core inflation being 2.9 per cent higher in October than a year ago, compared with three per cent in September.

Brent crude has tumbled three per cent to below $75/barrel (£48) yesterday, the lowest level since September 2010, as the Organization of Petroleum Exporting Countries (Opec) agreed to leave output unchanged. 

This comes amid a global surplus due to ongoing US production and Opec supplies ahead of targets, along with a slowdown in demand in China and Europe. 

Learn about the Asian markets and CFD trading at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.