Japan Stocks Edge Higher, With Support From Weak Yen

MarketWatch Pulse

Japanese stocks moved from strength to strength Friday, with the Nikkei Average up 0.1% in early trade, off an opening gain of 0.4% but nonetheless moving to fresh multiyear highs after Thursday's 1.1% rise. The Topix also extended its advance, improving by 0.6%. Once again, the forex market proved to be a prime driver of gains for Tokyo blue chips, as the dollar appreciated to �116.06, compared to �115.58 at the previous stock close. Major advancers included Sony Corp. (up 2%), Nintendo Co. (up 2.4%), TDK Corp. (up 3.4%), Honda Motor Co. (up 1.9%) and Rohm Co. (up 2.1%). Earnings results also helped boost the fortunes of some stocks, with Alps Electric Co. rising 4.6% after its report, and Japan Display Inc. rallying 6.4% despite posting a swing to a loss and again cutting its full-fiscal-year forcast to a net loss of �12.13 billion. Takata Corp. managed to make solid gains in early moves, but the advance slimmed to 0.1% about 25 minutes into trade, with the auto-parts maker set to face a U.S. Senate hearing over defective airbags. And rounding out the movers, real-estate major Sekisui House Ltd. jumped 5.8% after lifting its full-year profit outlook.

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