Japan Stocks Head For Second Day Of Gains As Yen Falls

Japan stocks opened higher Wednesday, heading for a second straight day of gains, as new record highs on Wall Street overnight boosted the market. The Nikkei Average and the broader Topix index both advanced 1%. Meanwhile, the yen continued to drop versus the dollar, trading at �115.71, compared with �115.37 in New York late Tuesday afternoon. In New York overnight, the dollar broke above the 116-yen level, the highest point in seven years. Auto makers advanced, with Nissan Motor Co., Ltd. climbing 1.9%, Toyota Motor Corp. up 1.8%, and Honda Motor Co., Ltd. higher by 1.5%. Tech exporters gained further, as electronics giant Sharp Corp. jumped 2.4%, electronic component maker TDK Corporation rose 2.1%, and camera maker Olympus Corp. added 1.8%.

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