Japan's Nikkei rises on corporate earnings boost, weak yen [Reuters]
FAST RETAILING UNSP/ADR (FRCOY)
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Source: Reuters
The Nikkei share average rose 0.4% to 29,505.80 by the midday break, crossing 25,500 for the first time since November 2021. The broader Topix rose 0.49% to 2,106.74. “Investors scooped up individual stocks that reported positive earnings, which boosted the overall market,” said Maki Sawada, a strategist at Nomura Securities. The U.S. dollar kept its strength against a basket of major currencies, after posting the biggest weekly gain last week. A softer yen tends to help exporter shares as it increases the value of overseas profits in yen terms when companies repatriate them to Japan. Among individual shares, Shiseido jumped 4.51% after the cosmetic maker beat consensus by posting a 97% jump in its net profit for three months through March. Beer maker Asahi Group Holdings rose 2.91% after its quarterly net profit grew more than four times. Phone company NTT advanced 3.295 after announcing a stock split. SBI Shinsei Bank surged 8.47% after Japanese online financial congl
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