Thursday, September 16, 2010

Nikkei gains 1.1 pct, exporters up as yen on back foot

TOKYO: The Nikkei average gained 1.1 percent on Thursday, Sept 16 with exporters such as Toyota Motor gaining as the yen remained on the defensive after Japan intervened in the market the previous day to weaken the currency.

The benchmark Nikkei rose 103.26 points to 9,619.82. The broader Topix rose 0.8 percent to 855.03.

The dollar traded at 85.55 yen, after having falling to a 15-year low below 83 yen on Wednesday just before Tokyo stepped into the currency market.

In Seoul, shares slipped on Thursday as banks such as KB Financial Group edged lower after a recent rally, but modest rises in TECHNOLOGY [] stocks such as LG Display gave the market support.

The Korea Composite Stock Price Index (KOSPI) was down 0.02 percent at 1,823.54 points as of 0006 GMT. - Reuters

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