By Michael Kitchen
LOS ANGELES (MarketWatch) -- Japanese stocks climbed sharply in early Thursday trading, helped by an overnight drop in the yen's value and gains on Wall Street. The benchmark Nikkei Stock Average (JP:NI225 10,530, +148.99, +1.44%) was up 1.1% at 10,497.9 in the initial minutes, while the Topix added 1% to 920.64. Companies benefiting from a weaker yen were among the leading gainers, with trading houses Mitsui & Co. (JP:8031 1,389, +15.00, +1.09%) (MITSY 337.22, +2.57, +0.77%) and Mitsubishi Corp. (JP:8058 2,328, +38.00, +1.66%) (MSBHY 56.15, +0.39, +0.70%) rising 2.2% and 1.8%, respectively. Among tech exporters, Toshiba Corp. (JP:6502 460.00, +11.00, +2.45%) (TOSYY 33.20, +0.21, +0.64%) rose 2.2%, and Sharp Corp. (JP:6753 853.00, +16.00, +1.91%) (SHCAF 10.58, +0.38, +3.73%) was up 2.5%, while Nintendo Co. (JP:7974 22,870, -480.00, -2.06%) (NTDOF 283.00, -11.50, -3.90%) pared some of its recent losses to advance 1.7%. Among auto makers, Toyota Motor Corp. (JP:7203 3,295, +30.00, +0.92%) (TM 80.20, +0.34, +0.43%) rose 1.5%, Honda Motor Co. (JP:7267 3,205, -25.00, -0.77%) (HMC 39.19, -0.41, -1.04%) gained 1.4%, and Subaru maker Fuji Heavy Industries Ltd. (JP:7270 658.00, +19.00, +2.97%) (FUJHF 7.84, +0.08, +1.03%) jumped 3.3%. |
