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Japanese shares soared on Thursday for the first rise in two days as market sentiment was bolstered by a weaker yen and positive Chinese economic data.
The benchmark Nikkei 225 Stock Average gained 337.45 points, or 2.47 per cent, to end at 14,005.77 while the broader-based Topix index was up 31.69 points, or 2.8 per cent, at 1,163.39.
Export-linked shares rose strongly as the yen fell against major currencies. A weaker yen makes Japanese goods more competitive abroad and improves repatriate earnings.
Chinese purchasing managers’ index rose to 50.3 per cent in July from 50.1 in June, statistics from the China Federation of Logistics and Purchasing showed on Thursday.
On currency markets at 3 pm (0600 GMT), the dollar traded at 98.40-43 yen, up from Wednesday’s 5 pm quote of 97.84-85 yen.
The euro was quoted at 130.62-63 yen, up from 129.93-96 yen on late Wednesday.
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