Tokyo shares rise to fresh 3-month high on recovery hopes, weaker yen [Reuters]
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Source: Reuters
Tokyo shares rise to fresh 3-month high on recovery hopes, weaker yen SYDNEY, June 4 (Reuters) - Japanese stocks closed at their highest in more than three months on Thursday, underpinned by a weaker yen and signs of an economic rebound from a coronavirus-led slump, but the rally lost some steam as profit-taking set in. The benchmark Nikkei average ended up 0.4% at 22,695.74 points, its highest close since Feb. 21, after flitting between positive and negative territories earlier. On Wednesday, data showed U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen, which helped propel all the three major indexes on Wall Street. In the currency market, the safe-haven yen weakened, with the dollar/yen hitting a fresh two-month high of 109.10 yen on Thursday and the euro/yen touching a 4-1/2-month high of 122.625 yen overnight. As a softer yen boosts Japanese manufacturers’ profits made abroad when repatriated, shares of blue-chip exporters
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