Japan’s Nikkei Ends More Than 1% Higher as Weaker Yen Boosts Appetite

Reuters

16:15 JST, February 13, 2025

TOKYO, Feb 13 (Reuters) – Japan’s Nikkei share average ended more than 1% higher on Thursday as a weak yen boosted appetite, masking losses of heavyweight SoftBank Group on its surprise quarterly loss.

The Nikkei rose 1.28% to close at 39,461.47 in its biggest daily percentage gain since Jan. 22, and posted a third straight session of gains.

“Last month, Japanese stocks were dragged lower by worries about the yen’s strength. But those concerns have eased for now as the yen fell against the dollar,” said Fumio Matsumoto, chief strategist at Okasan Securities.

After Bank of Japan (BOJ) raised short-term interest rates to 0.5% last month, expectations grew that the central bank may raise rates faster and higher, driving the yen to rise against the U.S. dollar.