MW: Japanese stocks rise, with exporters, banks higher
By Michael Kitchen
LOS ANGELES (MarketWatch) -- Japanese shares headed higher early Wednesday morning, with a relatively weak level for the Japanese yen helping to support some export shares. Japan's Nikkei Stock Average (JP:NI225 10,798, +51.58, +0.48%) rose 0.3% to 10,782.3, while the Topix was up 0.4% to 966.58. Gainers included export-heavy tech firms, with Toshiba Corp. (JP:6502 549.00, +17.00, +3.20%) (TOSYY 38.01, -0.01, -0.03%) adding 1.9%, and Nintendo Co. (JP:7974 24,420, +290.00, +1.20%) (NTDOF 291.50, -1.00, -0.34%) up 1.5%. The U.S. dollar traded at 83.72 yen, compared to ¥83.26 in late North American trade Monday. Banks also advanced, with Mitsubishi UFJ Financial Group Inc. (JP:8306 470.00, +3.00, +0.64%) (MTU 5.52, -0.05, -0.90%) and Sumitomo Mitsui Financial Group Inc. (JP:8316 3,140, +70.00, +2.28%) (SMFG 7.29, -0.13, -1.75%) each rising 1.5%. In the auto sector, Daihatsu Motor Co. (JP:7262 1,328, +26.00, +2.00%) and parent Toyota Motor Corp. (TM 92.91, -0.06, -0.07%) (JP:7203 3,905, -5.00, -0.13%) rose 1.7% and 0.8%, respectively, after a Nikkei report that Daihatsu was planning to build a low-priced auto in Indonesia.