Nikkei scales 27-year peak on weak yen, NAFTA rescue [Reuters]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: Reuters
Nikkei scales 27-year peak on weak yen, NAFTA rescue | Reuters 4 Min Read * Nikkei stretches rally, hits highest level since Nov 1991 * Companies seen revising up earnings forecasts as yen weakens * US, Canada forge last-gasp deal to rescue NAFTA By Shinichi Saoshiro TOKYO, Oct 1 (Reuters) - Japan’s Nikkei share average rose to a 27-year high on Monday, as an extended weakening in yen helped improved export earnings prospects for Japanese corporations, with a last-gasp deal to salvage NAFTA also lifting sentiment. The United States and Canada forged a deal on Sunday North American time to preserve NAFTA as a trilateral pact with Mexico. The Nikkei ended the day up 0.52 percent at 24,245.76 after going as high as 24,306.54, its strongest since November 1991. The Bank of Japan’s quarterly “tankan” survey of business sentiment published on Monday showed big manufacturers saw the dollar averaging 107.40 yen for the 2018/2019 financial year. The U.S. currency has risen significantly above
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