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Japan gains, yen falls(Baystreet Foreign Markets Wrap (Canada) Via Acquire Media NewsEdge) Japan stocks ended mildly higher on Friday, gaining for a fifth straight session, as the yen's continued weakness helped support the markets' advance. The Nikkei 225 in Tokyo gained 39.09 points, or 0.3%, to 15,948.29, capping the week with a solid 1.8% gain. In Hong Kong, the Hang Seng Index tumbled 67.32 points, or 0.3%, to 24,595.32 Meanwhile, the yen dropped further against the U.S. dollar to ¥107.22 compared with ¥107.05 in the previous session. Earlier on Friday, the yen hit ¥107.39 per dollar, its highest level in six years. Internet and telecom giant SoftBank Corp. which is a major shareholder of Chinese e-commerce giant Alibaba Group, advanced 2.3% following a 2.9% rally in the previous day. Alibaba Group started a roadshow this week in New York ahead of its widely anticipated U.S. initial public offering. Media conglomerate Sony Corporation added 1.1% to its recent gains, as it had reached a deal with Viacom Inc. for content partnerships. Among other leading gainers, camera maker Nikon Corp improved by 1.8%, auto maker Toyota Motor Corp. tacked on 1.4%, electronics giant Hitachi Ltd. zoomed 0.7% higher, and semiconductor firm Renesas Electronics Corp. snagged a 0.3% gain. In other markets; Shanghai's CSI 300 index picked up 14.90 points, or 0.6%, to 2,438.36. In Korea, the Kospi index regained 7.70 points, or 0.4%, to 2,041.86 The Taiex index in Taiwan dropped 99.77 points, or 1.1%, to 9,223.18 In Singapore, the Straits Times STI Index docked 1.73 points, or 0.1%, to 3,345.55 In New Zealand, the NZX 50 lost 38.36 points, or 0.7%, to 5,223.97 Australia's S&P/ASX 200 ditched 14.98 points, or 0.3%, to 5,531.14 © 1998 - 2014 Baystreet.ca Media Corp. All rights reserved. |