MW: Japan stocks get help from U.S. gains, weaker yen
By Michael Kitchen
LOS ANGELES (MarketWatch) -- Japanese stocks opened solidly higher Tuesday, with overnight U.S. gains helping financials and a slightly weaker yen pushing up some exporter shares. In early morning trading, the benchmark Nikkei Stock Average (JP:NI225 10,398, +169.18, +1.65%) rose 1.1% to 10,341.2, while the Topix was also up 1.1% at 908.41. Banks were broadly higher, with Mitsubishi UFJ Financial Group Inc. (JP:8306 439.00, -6.00, -1.35%) (MTU 5.48, +0.07, +1.29%) up 1.6%, Mizuho Financial Group Inc. (JP:8411 153.00, -4.00, -2.55%) (MFG 3.86, +0.11, +2.93%) adding 1.3%, and Sumitomo Mitsui Financial Group Inc. (JP:8316 2,892, -57.00, -1.93%) (SMFG 7.23, +0.12, +1.69%) rising 1.8%. The U.S. dollar sat at ¥81.63, off its high of the day but still above its ¥81.24 level at the end of last week. This helped some export-focused stocks, as Hitachi Ltd. (JP:6501 433.00, +8.00, +1.88%) (HIT 53.90, +0.55, +1.03%) climbed 1.4% and Japan's top chip maker Elpida Memory Inc. (JP:6665 945.00, -26.00, -2.68%) (ELPDF 10.82, -0.58, -5.09%) gained 1.9%.
